Trillium Therapeutics Inc. (NASDAQ:TRIL) (TSE:TR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Trillium Therapeutics Inc. is a clinical stage immuno-oncology company developing innovative therapies for the treatment of cancer. The company’s lead program, SIRPaFc (TTI-621), is a fusion protein that consists of the CD47-binding domain of human SIRPa linked to the Fc region of a human immunoglobulin (IgG1). It is designed to act as a soluble decoy receptor, preventing CD47 from delivering its inhibitory (do not eat) signal. Neutralization of the inhibitory CD47 signal enables the activation of macrophage anti-tumor effects by pro-phagocytic (eat) signals. A Phase 1 clinical trial (NCT02663518) evaluating SIRPaFc is ongoing. Trillium also has a proprietary medicinal chemistry platform, using unique fluorine chemistry, which permits the creation of new chemical entities from validated drugs and drug candidates with improved pharmacological properties. “
Other analysts have also recently issued research reports about the company. HC Wainwright set a $7.00 price objective on Trillium Therapeutics and gave the stock a “buy” rating in a research report on Monday, August 14th. Cowen and Company restated a “buy” rating on shares of Trillium Therapeutics in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.00.
Trillium Therapeutics (NASDAQ TRIL) opened at 6.60 on Tuesday. Trillium Therapeutics has a 1-year low of $4.15 and a 1-year high of $15.51. The stock’s market cap is $71.24 million. The stock has a 50 day moving average price of $5.23 and a 200 day moving average price of $5.17.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its stake in shares of Trillium Therapeutics by 34.1% during the 1st quarter. Wells Fargo & Company MN now owns 17,700 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 4,500 shares during the last quarter. Creative Planning raised its stake in shares of Trillium Therapeutics by 1.1% during the 2nd quarter. Creative Planning now owns 26,400 shares of the biotechnology company’s stock valued at $116,000 after buying an additional 300 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Trillium Therapeutics during the 2nd quarter valued at about $128,000. K2 Principal Fund L.P. purchased a new position in shares of Trillium Therapeutics during the 2nd quarter valued at about $264,000. Finally, Victory Capital Management Inc. raised its stake in shares of Trillium Therapeutics by 40.0% during the 1st quarter. Victory Capital Management Inc. now owns 77,601 shares of the biotechnology company’s stock valued at $479,000 after buying an additional 22,171 shares during the last quarter. Institutional investors and hedge funds own 47.97% of the company’s stock.
Trillium Therapeutics Company Profile
Trillium Therapeutics Inc, a clinical-stage immuno-oncology company, develops therapies for the treatment of cancer. The companys lead program is TTI-621, a SIRPaFc fusion protein that acts a soluble decoy receptor preventing CD47 from delivering its inhibitory signal, which is in Phase I clinical trial for advanced hematologic malignancies and solid tumors therapy.
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