Trillium Therapeutics Inc. (NASDAQ:TRIL) (TSE:TR) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,000,000 shares, a drop of 50.6% from the August 15th total of 6,070,000 shares. Based on an average trading volume of 2,730,000 shares, the short-interest ratio is currently 1.1 days. Approximately 4.0% of the shares of the stock are sold short.
Several equities analysts have recently issued reports on the company. Craig Hallum lowered Trillium Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $21.00 to $18.50 in a research note on Tuesday, August 24th. HC Wainwright lowered Trillium Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from C$22.00 to C$18.50 in a research note on Monday, August 23rd. Zacks Investment Research lowered Trillium Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, August 19th. Finally, JMP Securities lowered Trillium Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.33.
NASDAQ TRIL opened at $17.30 on Friday. Trillium Therapeutics has a twelve month low of $5.80 and a twelve month high of $20.96. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 27.90 and a beta of 2.21. The business’s fifty day moving average is $10.88 and its 200 day moving average is $10.12.
In other Trillium Therapeutics news, insider Robert Uger sold 3,646 shares of the firm’s stock in a transaction on Wednesday, July 7th. The stock was sold at an average price of $9.00, for a total transaction of $32,814.00. Following the transaction, the insider now owns 3,646 shares in the company, valued at approximately $32,814. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 9.10% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in TRIL. BlackRock Inc. acquired a new position in Trillium Therapeutics during the 2nd quarter worth about $54,458,000. State Street Corp acquired a new position in Trillium Therapeutics during the 2nd quarter worth about $12,793,000. Woodline Partners LP raised its position in shares of Trillium Therapeutics by 80.3% in the 2nd quarter. Woodline Partners LP now owns 1,866,073 shares of the biotechnology company’s stock worth $18,101,000 after acquiring an additional 831,082 shares in the last quarter. Northern Trust Corp bought a new position in shares of Trillium Therapeutics in the 2nd quarter worth about $7,796,000. Finally, Geode Capital Management LLC raised its position in shares of Trillium Therapeutics by 1,041.7% in the 2nd quarter. Geode Capital Management LLC now owns 839,889 shares of the biotechnology company’s stock worth $8,146,000 after acquiring an additional 766,327 shares in the last quarter. 80.86% of the stock is currently owned by hedge funds and other institutional investors.
About Trillium Therapeutics
Trillium Therapeutics, Inc is a clinical stage immuno-oncology company, which engages in the research and development of therapies for the treatment of cancer. It offers clinical programs, TTI-621 and TTI-622, target CD47, a signal that cancer cells frequently use to evade the immune system. The company was founded on March 31, 2004 and is headquartered in Mississauga, Canada.
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