Short Interest in Surface Oncology Inc (NASDAQ:SURF) Declines By 25.1%

Surface Oncology Inc (NASDAQ:SURF) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 68,300 shares, a decline of 25.1% from the January 15th total of 91,200 shares. Based on an average daily trading volume, of 136,100 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.4% of the company’s shares are short sold.

A number of analysts have commented on SURF shares. Zacks Investment Research raised shares of Surface Oncology from a “hold” rating to a “strong-buy” rating and set a $3.00 target price for the company in a report on Saturday, February 1st. Cowen reissued a “buy” rating on shares of Surface Oncology in a research note on Wednesday, November 13th.

NASDAQ SURF traded down $0.13 on Friday, reaching $3.23. The company had a trading volume of 9,882 shares, compared to its average volume of 165,583. The stock’s 50 day moving average is $2.67 and its 200-day moving average is $2.04. The stock has a market cap of $83.65 million, a price-to-earnings ratio of -2.08 and a beta of 2.32. The company has a quick ratio of 7.34, a current ratio of 7.34 and a debt-to-equity ratio of 0.28. Surface Oncology has a 52 week low of $1.15 and a 52 week high of $5.67.

Surface Oncology (NASDAQ:SURF) last released its earnings results on Tuesday, November 12th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.03). Surface Oncology had a negative net margin of 176.50% and a negative return on equity of 48.88%. The company had revenue of $0.34 million during the quarter, compared to analyst estimates of $2.50 million. As a group, analysts forecast that Surface Oncology will post -1.97 EPS for the current year.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its stake in shares of Surface Oncology by 1,177.4% in the 2nd quarter. Morgan Stanley now owns 22,751 shares of the company’s stock valued at $64,000 after acquiring an additional 20,970 shares during the last quarter. Jane Street Group LLC bought a new position in Surface Oncology during the 2nd quarter worth approximately $82,000. Tower Research Capital LLC TRC boosted its stake in Surface Oncology by 323.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 25,497 shares of the company’s stock worth $36,000 after acquiring an additional 19,482 shares during the last quarter. Millennium Management LLC grew its holdings in Surface Oncology by 15,117.7% during the third quarter. Millennium Management LLC now owns 490,161 shares of the company’s stock valued at $696,000 after purchasing an additional 486,940 shares during the period. Finally, Beddow Capital Management Inc. acquired a new position in Surface Oncology during the fourth quarter valued at approximately $47,000. Institutional investors own 52.82% of the company’s stock.

About Surface Oncology

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies. The company develops human immunoglobulin isotype G4 monoclonal antibodies, including SRF231 inhibiting CD47; NZV930 inhibiting CD73; SRF617 inhibiting CD39; and SRF388 targeting interleukin 27.

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