Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors 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 dropped their price target on Trillium Therapeutics from $10.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th.

Shares of TRIL stock remained flat at $$0.66 on Wednesday. The company had a trading volume of 370,814 shares, compared to its average volume of 780,429. The firm has a market cap of $13.95 million, a price-to-earnings ratio of -0.28 and a beta of 2.22. Trillium Therapeutics has a twelve month low of $0.51 and a twelve month high of $7.00.

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

Several large investors have recently added to or reduced their stakes in TRIL. NEA Management Company LLC grew its stake in shares of Trillium Therapeutics by 68.0% in the first quarter. NEA Management Company LLC now owns 2,100,000 shares of the biotechnology company’s stock worth $1,386,000 after purchasing an additional 850,000 shares in the last quarter. Morgan Stanley grew its stake in shares of Trillium Therapeutics by 47.2% in the first quarter. Morgan Stanley now owns 769,898 shares of the biotechnology company’s stock worth $508,000 after purchasing an additional 246,743 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Trillium Therapeutics in the first quarter worth $73,000. Oxford Asset Management LLP grew its stake in shares of Trillium Therapeutics by 64.0% in the first quarter. Oxford Asset Management LLP now owns 93,589 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 36,534 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Trillium Therapeutics in the fourth quarter worth $43,000. 27.22% of the stock is owned by 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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