Trillium Therapeutics (NASDAQ:TRIL) Rating Increased to Buy at Zacks Investment Research

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, 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 analysts have also recently issued reports about the stock. Cowen restated a “buy” rating on shares of Trillium Therapeutics in a report on Thursday, August 15th. HC Wainwright cut shares of Trillium Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 19th.

Shares of NASDAQ:TRIL traded up $0.01 during trading on Friday, reaching $0.28. The stock had a trading volume of 3,300 shares, compared to its average volume of 189,492. Trillium Therapeutics has a one year low of $0.24 and a one year high of $3.58. The company has a market capitalization of $8.11 million, a P/E ratio of -0.12 and a beta of 2.21. The firm’s 50-day simple moving average is $0.33 and its 200 day simple moving average is $0.41.

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.19. The firm had revenue of $0.03 million during the quarter. As a group, analysts forecast that Trillium Therapeutics will post -1.34 earnings per share for the current year.

An institutional investor recently bought a new position in Trillium Therapeutics stock. Marshall Wace LLP purchased a new stake in Trillium Therapeutics Inc (NASDAQ:TRIL) (TSE:TR) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 110,282 shares of the biotechnology company’s stock, valued at approximately $73,000. Marshall Wace LLP owned approximately 0.42% of Trillium Therapeutics as of its most recent filing with the SEC. Hedge funds and other institutional investors own 23.88% 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 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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