Zacks Investment Research upgraded shares of Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $3.00 target price on the biotechnology company’s stock.
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. “
Separately, HC Wainwright set a $10.00 price target on Trillium Therapeutics and gave the company a buy rating in a report on Thursday, November 15th.
Several large investors have recently bought and sold shares of TRIL. Baker BROS. Advisors LP lifted its stake in shares of Trillium Therapeutics by 25.0% during the 2nd quarter. Baker BROS. Advisors LP now owns 511,763 shares of the biotechnology company’s stock worth $3,071,000 after acquiring an additional 102,440 shares during the last quarter. Wealth Alliance Advisory Group LLC bought a new stake in shares of Trillium Therapeutics during the 3rd quarter worth approximately $126,000. Renaissance Technologies LLC lifted its stake in shares of Trillium Therapeutics by 245.3% during the 2nd quarter. Renaissance Technologies LLC now owns 144,000 shares of the biotechnology company’s stock worth $864,000 after acquiring an additional 102,300 shares during the last quarter. Stanley Laman Group Ltd. lifted its stake in shares of Trillium Therapeutics by 26.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 137,091 shares of the biotechnology company’s stock worth $823,000 after acquiring an additional 28,907 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Trillium Therapeutics by 25.2% during the 3rd quarter. Morgan Stanley now owns 356,655 shares of the biotechnology company’s stock worth $2,068,000 after acquiring an additional 71,860 shares during the last quarter. 47.74% of the stock is owned by institutional investors and hedge funds.
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 and mycosis fungoides.
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