Zacks Investment Research lowered shares of Trillium Therapeutics Inc. (NASDAQ:TRIL) (TSE:TR) from a hold rating to a sell rating in a research report report published on Friday.

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. “

A number of other brokerages also recently weighed in on TRIL. Cowen and Company reaffirmed a buy rating on shares of Trillium Therapeutics in a research note on Wednesday, July 5th. Ladenburg Thalmann Financial Services reaffirmed a buy rating and set a $18.00 target price on shares of Trillium Therapeutics in a research note on Friday, June 9th. Finally, HC Wainwright began coverage on shares of Trillium Therapeutics in a research note on Monday, July 17th. They set a buy rating and a $7.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $14.95.

Shares of Trillium Therapeutics (NASDAQ TRIL) opened at 4.95 on Friday. The stock has a 50 day moving average price of $4.59 and a 200 day moving average price of $5.39. Trillium Therapeutics has a 52 week low of $4.15 and a 52 week high of $17.70. The firm’s market capitalization is $53.43 million.

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Several hedge funds and other institutional investors have recently made changes to their positions in TRIL. Wells Fargo & Company MN increased its stake in shares of Trillium Therapeutics by 34.1% during the first quarter. Wells Fargo & Company MN now owns 17,700 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 4,500 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Trillium Therapeutics by 40.0% during the first quarter. Victory Capital Management Inc. now owns 77,601 shares of the biotechnology company’s stock valued at $479,000 after purchasing an additional 22,171 shares in the last quarter. Creative Planning increased its stake in shares of Trillium Therapeutics by 1.1% during the second quarter. Creative Planning now owns 26,400 shares of the biotechnology company’s stock valued at $116,000 after purchasing an additional 300 shares in the last quarter. NEA Management Company LLC bought a new position in shares of Trillium Therapeutics during the second quarter valued at approximately $4,619,000. Finally, K2 Principal Fund L.P. bought a new position in shares of Trillium Therapeutics during the second quarter valued at approximately $264,000. 47.97% of the stock is owned by institutional investors and hedge funds.

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 trial for advanced hematologic malignancies and solid tumors therapy.

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