Trillium Therapeutics Inc. (TRIL) Downgraded by Zacks Investment Research

Trillium Therapeutics Inc. (NASDAQ:TRIL) (TSE:TR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, October 17th.

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. “

A number of other brokerages have also recently commented on TRIL. HC Wainwright set a $7.00 price target on shares of Trillium Therapeutics and gave the company a “buy” rating in a research report on Monday, August 14th. Cowen and Company reissued a “buy” rating on shares of Trillium Therapeutics in a research report on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Trillium Therapeutics presently has an average rating of “Buy” and an average price target of $15.00.

Trillium Therapeutics (NASDAQ TRIL) remained flat at $7.35 on Tuesday. The company’s stock had a trading volume of 27,908 shares. The firm’s market capitalization is $79.34 million. The firm’s 50-day moving average price is $5.56 and its 200 day moving average price is $5.20. Trillium Therapeutics has a 1-year low of $4.15 and a 1-year high of $15.50.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Trillium Therapeutics by 34.1% in the 1st quarter. Wells Fargo & Company MN now owns 17,700 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 4,500 shares in the last quarter. Creative Planning lifted its position in Trillium Therapeutics by 1.1% in the 2nd quarter. Creative Planning now owns 26,400 shares of the biotechnology company’s stock valued at $116,000 after acquiring an additional 300 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in Trillium Therapeutics in the 2nd quarter valued at about $128,000. K2 Principal Fund L.P. bought a new position in Trillium Therapeutics in the 2nd quarter valued at about $264,000. Finally, Victory Capital Management Inc. lifted its position in Trillium Therapeutics by 40.0% in the 1st quarter. Victory Capital Management Inc. now owns 77,601 shares of the biotechnology company’s stock valued at $479,000 after acquiring an additional 22,171 shares in the last quarter. 47.97% of the stock is currently owned by institutional investors and hedge funds.

Trillium Therapeutics Company Profile

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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Analyst Recommendations for Trillium Therapeutics (NASDAQ:TRIL)

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