Trillium Therapeutics (TRIL) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) from a buy rating to a hold rating in a research report released on Wednesday, 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. “

Separately, HC Wainwright reduced their price objective on shares of Trillium Therapeutics from $10.00 to $4.00 and set a buy rating on the stock in a report on Wednesday, March 13th.

TRIL traded up $0.04 on Wednesday, hitting $0.62. The company had a trading volume of 1,034,206 shares, compared to its average volume of 822,854. The firm has a market cap of $12.39 million, a P/E ratio of -0.26 and a beta of 2.22. Trillium Therapeutics has a 1 year low of $0.51 and a 1 year high of $7.00. The company has a current ratio of 3.56, a quick ratio of 3.56 and a debt-to-equity ratio of 0.01.

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last issued its quarterly earnings data on Monday, March 11th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.24. Equities research analysts forecast that Trillium Therapeutics will post -1.93 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Trillium Therapeutics by 164.0% in the 4th quarter. Geode Capital Management LLC now owns 26,627 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 16,541 shares during the period. Two Sigma Investments LP purchased a new stake in Trillium Therapeutics in the 4th quarter valued at about $35,000. Jane Street Group LLC purchased a new stake in Trillium Therapeutics in the 4th quarter valued at about $43,000. Oxford Asset Management LLP raised its holdings in Trillium Therapeutics by 64.0% in the 1st quarter. Oxford Asset Management LLP now owns 93,589 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 36,534 shares during the period. Finally, Morgan Stanley raised its holdings in Trillium Therapeutics by 25.2% in the 3rd quarter. Morgan Stanley now owns 356,655 shares of the biotechnology company’s stock valued at $2,068,000 after buying an additional 71,860 shares during the period. Hedge funds and other institutional investors own 27.22% 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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