The stock of Trillium Therapeutics Inc. (NASDAQ:TRIL) is now priced at $11.33 and the shares are 1.06 points up or 10.32% higher compared to its previous closing price of $10.27. The stock had 1.915 million contracts set over the past session. TRIL shares’ daily volume is compared to its average trading volume at 1.326 million shares. However, it has a float of 62.36 million and although its performance was 12.96% over the week, it’s one to watch. Analysts have given the TRIL stock a yearly average price target of $11.02 per share. It means the stock’s downside potential is -2.74% with the TRIL share price recently placing at $10.27 to $11.55. However, some brokerage firms have priced the stock below the average, including one that has called $8.
The shorts are climbing into the Trillium Therapeutics Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the TRIL shares have risen. Short interest in the stock represents just 5.1% of its float, but the volume has raised by 674450. The volume of shorted shares rised to 3.18 million from 2.505 million shares over the last two weeks. The average intraday trading volume has been 912333 shares, which means that days to cover moved to roughly 3.485454.
In the last trading session, Trillium Therapeutics Inc. (NASDAQ:TRIL) raised by $1.3 over the week and gained $4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $11.55. The stock recorded its established 52-week high on 08/31/20.
Since 10/31/19, the stock has traded to a low of $0.24 at 4611.02%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Trillium Therapeutics Inc.’s two-week RSI is 73.18. This suggests that the stock is oversold at the moment and that TRIL shares’ price movement remains not stable. The stochastic readings are equally revealing at 82.49% meaning the TRIL share price is currently in oversold territory.
The technical chart shows that the TRIL stock will likely settle at between $11.83 and $12.33 per share. However, if the stock dips below $10.55, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.77.
Currently, the stock is trading in the green of MACD, with a reading of 0.18. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned TRIL a rating of Buy in their intiating review released on August 17. Oppenheimer analysts see the stock as a Outperform in a flash note released to investors on June 19 initiating covering the stock. JMP Securities analysts see the stock as Mkt Outperform when the analysts initiated the share price coverage on May 26, placing it at $10.
The average rating for the TRIL equity is 2 and is currently gathering a bullish momentum. Of 5 analysts tracking Trillium Therapeutics Inc. polled by Reuters, 1 rated TRIL as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.