Short Interest in Surface Oncology, Inc. (NASDAQ:SURF) Increases By 27.4%

Surface Oncology, Inc. (NASDAQ:SURFGet Rating) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 2,650,000 shares, a growth of 27.4% from the April 15th total of 2,080,000 shares. Based on an average daily trading volume, of 722,500 shares, the days-to-cover ratio is currently 3.7 days. Currently, 7.1% of the company’s shares are sold short.

A number of institutional investors and hedge funds have recently modified their holdings of SURF. Invesco Ltd. bought a new position in Surface Oncology during the second quarter valued at approximately $131,000. Morgan Stanley raised its position in Surface Oncology by 252.6% during the second quarter. Morgan Stanley now owns 733,295 shares of the company’s stock valued at $5,470,000 after acquiring an additional 525,356 shares in the last quarter. SG Americas Securities LLC bought a new position in Surface Oncology during the third quarter valued at approximately $220,000. Advisor Group Holdings Inc. raised its position in Surface Oncology by 9.9% during the third quarter. Advisor Group Holdings Inc. now owns 17,396 shares of the company’s stock valued at $132,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Surface Oncology by 56.4% during the third quarter. Goldman Sachs Group Inc. now owns 1,199,889 shares of the company’s stock valued at $9,083,000 after acquiring an additional 432,647 shares in the last quarter. 70.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ SURF traded up $0.17 during mid-day trading on Tuesday, reaching $2.05. The company had a trading volume of 32,748 shares, compared to its average volume of 801,136. The stock has a fifty day moving average of $2.55 and a two-hundred day moving average of $3.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 9.42 and a current ratio of 9.42. The company has a market capitalization of $111.95 million, a price-to-earnings ratio of -1.61 and a beta of 1.68. Surface Oncology has a 12-month low of $1.86 and a 12-month high of $9.57.

Surface Oncology (NASDAQ:SURFGet Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.42). The company had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $30.00 million. Surface Oncology had a negative return on equity of 41.62% and a negative net margin of 182.63%. Sell-side analysts forecast that Surface Oncology will post -1.19 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Surface Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Jonestrading reaffirmed a “buy” rating and set a $12.00 price objective on shares of Surface Oncology in a research note on Wednesday, April 13th. TheStreet lowered shares of Surface Oncology from a “c-” rating to a “d” rating in a research note on Monday, March 7th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Surface Oncology in a research note on Thursday, March 3rd. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $10.38.

About Surface Oncology (Get Rating)

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies in the United States. The company develops various antibodies that include NZV930, a fully human immunoglobulin isotype G4 monoclonal antibody for the production of extracellular adenosine; SRF617, a fully human IgG4 monoclonal antibody that inhibits CD39 enzymatic activity for the production of adenosine and the breakdown of adenosine triphosphate; SRF388 targeting interleukin 27; GSK4381562, an antibody targeting CD112R, an inhibitory protein expressed on natural killer and T cells; and SRF114 targeting the chemokine receptor CCR8.

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