Zacks Investment Research upgraded shares of Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) from a strong sell rating to a hold rating in a research report report published on Thursday, Zacks.com reports.
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 research analysts have also issued reports about the stock. ValuEngine upgraded shares of Trillium Therapeutics from a sell rating to a hold rating in a research note on Thursday, April 2nd. JMP Securities started coverage on Trillium Therapeutics in a research report on Tuesday, May 26th. They issued an outperform rating and a $10.00 price target on the stock. Finally, BidaskClub cut Trillium Therapeutics from a buy rating to a hold rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Trillium Therapeutics currently has an average rating of Hold and a consensus price target of $7.13.
Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last posted its earnings results on Friday, May 15th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.14). As a group, equities analysts expect that Trillium Therapeutics will post -0.76 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of the business. Deutsche Bank AG bought a new stake in shares of Trillium Therapeutics during the first quarter valued at approximately $10,022,000. Vident Investment Advisory LLC acquired a new stake in Trillium Therapeutics during the second quarter valued at approximately $1,433,000. Coastal Investment Advisors Inc. grew its stake in shares of Trillium Therapeutics by 144.3% in the 1st quarter. Coastal Investment Advisors Inc. now owns 42,750 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 25,250 shares during the period. Vigilare Wealth Management acquired a new position in shares of Trillium Therapeutics in the 2nd quarter worth approximately $211,000. Finally, Alliancebernstein L.P. bought a new position in shares of Trillium Therapeutics during the 1st quarter worth approximately $9,550,000. 72.53% of the stock is owned by hedge funds and other institutional investors.
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 trials for advanced hematologic malignancies, and solid tumors and mycosis fungoides.
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