Surface Oncology, Inc. (NASDAQ:SURF) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 1,520,000 shares, a growth of 98.3% from the December 15th total of 766,500 shares. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is currently 1.2 days.
Shares of NASDAQ:SURF opened at $10.96 on Thursday. The company has a 50 day moving average of $9.29 and a 200 day moving average of $7.51. The stock has a market cap of $445.82 million, a P/E ratio of -12.45 and a beta of 2.40. Surface Oncology has a 12 month low of $1.38 and a 12 month high of $11.68. The company has a current ratio of 11.12, a quick ratio of 11.12 and a debt-to-equity ratio of 0.16.
Surface Oncology (NASDAQ:SURF) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.01). Surface Oncology had a negative net margin of 70.90% and a negative return on equity of 32.89%. On average, equities analysts forecast that Surface Oncology will post -0.72 earnings per share for the current fiscal year.
SURF has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Surface Oncology from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Thursday, November 26th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price (up previously from $11.00) on shares of Surface Oncology in a research note on Friday, December 18th. Finally, BidaskClub upgraded shares of Surface Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, January 9th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.19.
In other news, Director David S. Grayzel sold 1,700,000 shares of Surface Oncology stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $18.10, for a total value of $30,770,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,703,000 shares of company stock valued at $30,800,580 in the last quarter. Corporate insiders own 35.00% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in Surface Oncology in the 3rd quarter worth approximately $35,000. Janney Montgomery Scott LLC purchased a new position in Surface Oncology in the 3rd quarter worth approximately $81,000. IHT Wealth Management LLC purchased a new position in Surface Oncology in the 3rd quarter worth approximately $85,000. Stifel Financial Corp purchased a new position in Surface Oncology in the 2nd quarter worth approximately $102,000. Finally, State Street Corp purchased a new position in Surface Oncology in the 3rd quarter worth approximately $115,000. 55.59% of the stock is owned by institutional investors and hedge funds.
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; SRF388 targeting interleukin 27; and SRF813 targeting CD112R.
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