Trillium Therapeutics (TRIL) Downgraded by Zacks Investment Research

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday. They currently have a $9.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.21% from the company’s previous close.

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. “

Several other research firms have also weighed in on TRIL. ValuEngine upgraded shares of Trillium Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Trillium Therapeutics in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Trillium Therapeutics currently has an average rating of “Hold” and a consensus target price of $12.33.

Trillium Therapeutics (TRIL) traded down $0.25 on Friday, reaching $7.95. 99,100 shares of the company traded hands, compared to its average volume of 110,533. The firm has a market capitalization of $91.71, a price-to-earnings ratio of -2.10 and a beta of 1.78. Trillium Therapeutics has a 52-week low of $4.15 and a 52-week high of $13.30. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 0.01.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Trillium Therapeutics by 37.3% during the third quarter. Creative Planning now owns 8,100 shares of the biotechnology company’s stock worth $120,000 after acquiring an additional 2,200 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Trillium Therapeutics in the 1st quarter worth about $100,000. Wells Fargo & Company MN grew its position in Trillium Therapeutics by 1,080.0% in the 3rd quarter. Wells Fargo & Company MN now owns 11,800 shares of the biotechnology company’s stock worth $175,000 after purchasing an additional 10,800 shares during the last quarter. Sabby Management LLC bought a new position in Trillium Therapeutics in the 1st quarter worth about $131,000. Finally, Oxford Asset Management grew its position in Trillium Therapeutics by 47.7% in the 4th quarter. Oxford Asset Management now owns 24,660 shares of the biotechnology company’s stock worth $139,000 after purchasing an additional 7,967 shares during the last quarter. Hedge funds and other institutional investors own 47.18% of the company’s stock.

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About Trillium Therapeutics

Trillium Therapeutics Inc, a clinical-stage immuno-oncology company, develops therapies for the treatment of cancer. The company’s 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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