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

Zacks Investment Research upgraded shares of Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) from a hold rating to a buy 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. “

Separately, HC Wainwright set a $18.00 target price on shares of Sutro Biopharma and gave the company a buy rating in a report on Friday, May 17th.

TRIL stock opened at $0.35 on Thursday. The firm has a fifty day simple moving average of $0.36. Trillium Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $6.75.

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last posted its earnings results on Monday, May 13th. The biotechnology company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.06). As a group, research analysts predict that Trillium Therapeutics will post -1.69 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake 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 purchasing an additional 16,541 shares during the last quarter. Two Sigma Investments LP bought a new position in Trillium Therapeutics in the 4th quarter valued at approximately $35,000. Jane Street Group LLC bought a new position in Trillium Therapeutics in the 4th quarter valued at approximately $43,000. NEA Management Company LLC lifted its stake in Trillium Therapeutics by 68.0% in the 1st quarter. NEA Management Company LLC now owns 2,100,000 shares of the biotechnology company’s stock valued at $1,386,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Trillium Therapeutics in the 1st quarter valued at approximately $73,000. Institutional investors own 24.99% 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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