The stock of Trillium Therapeutics Inc (TSE:TR) gapped up by $0.41 today and has $57.86 target or 199.00% above today’s $19.35 share price. The 6 months technical chart setup indicates low risk for the $149.48M company. The gap was reported on Nov, 2 by Barchart.com. If the $57.86 price target is reached, the company will be worth $297.47 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 5.45% or $1 on November 2, hitting $19.35. About 24,331 shares traded hands or 270.05% up from the average. Trillium Therapeutics Inc (TSE:TR) has risen 53.17% since March 29, 2016 and is uptrending. It has outperformed by 50.65% the S&P500.
More notable recent Trillium Therapeutics Inc (TSE:TR) news were published by: Marketwatch.com which released: “Trillium Therapeutics Inc.” on August 24, 2009, also Medgadget.com with their article: “Trillium Therapeutics Inc Clinical Trial Review, Market Size, Segment, and …” published on November 01, 2016, Etfdailynews.com published: “Trillium Therapeutics Inc. (TRIL): Finding The Next Blockbuster Biotech Stock” on June 23, 2015. More interesting news about Trillium Therapeutics Inc (TSE:TR) were released by: Quotes.Wsj.com and their article: “News Trillium Therapeutics Inc.TRIL” published on December 20, 2014 as well as Seekingalpha.com‘s news article titled: “Trillium Therapeutics Is An Overvalued Biotech Stock” with publication date: April 14, 2015.
Trillium Therapeutics Inc is a Canada clinical stage immuno-oncology firm developing therapies for the treatment of cancer. The company has a market cap of $149.48 million. The Company’s SIRPaFc program, which is under Phase I clinical trial, is a fusion protein that consists of the CD47-binding domain of human SIRPa linked to the fragment crystallizable (Fc) region of a human immunoglobulin (IgG1). It currently has negative earnings. It acts as a soluble decoy receptor, preventing CD47 from delivering its inhibitory signal.
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