Trillium Therapeutics Inc (NASDAQ:TRIL) Sees Large Drop in Short Interest

Trillium Therapeutics Inc (NASDAQ:TRIL) (TSE:TR) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 37,200 shares, a drop of 90.0% from the August 30th total of 372,000 shares. Based on an average daily volume of 232,400 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

A hedge fund recently raised its stake in Trillium Therapeutics stock. Morgan Stanley increased its stake in Trillium Therapeutics Inc (NASDAQ:TRIL) (TSE:TR) by 35.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,045,698 shares of the biotechnology company’s stock after buying an additional 275,800 shares during the quarter. Morgan Stanley owned about 3.73% of Trillium Therapeutics worth $343,000 as of its most recent SEC filing. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Cowen reissued a “buy” rating on shares of Trillium Therapeutics in a report on Thursday, August 15th. HC Wainwright downgraded Trillium Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 19th. Finally, Zacks Investment Research upgraded Trillium Therapeutics from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a research report on Saturday, August 17th.

TRIL traded down $0.02 during trading on Friday, reaching $0.27. The company had a trading volume of 291,200 shares, compared to its average volume of 594,719. The stock has a market cap of $8.20 million, a P/E ratio of -0.11 and a beta of 2.21. The business has a 50 day simple moving average of $0.33 and a 200-day simple moving average of $0.43. Trillium Therapeutics has a 52 week low of $0.24 and a 52 week high of $3.97.

Trillium Therapeutics (NASDAQ:TRIL) (TSE:TR) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.19. The company had revenue of $0.03 million during the quarter. On average, equities research analysts expect that Trillium Therapeutics will post -1.34 earnings per share for the current fiscal year.

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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