Surface Oncology Inc (NASDAQ:SURF) Short Interest Update

Surface Oncology Inc (NASDAQ:SURF) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 644,100 shares, a growth of 86.3% from the May 30th total of 345,800 shares. Based on an average daily trading volume, of 72,200 shares, the short-interest ratio is presently 8.9 days. Currently, 5.9% of the shares of the company are sold short.

NASDAQ:SURF traded down $0.01 during trading hours on Thursday, hitting $2.53. 19,625 shares of the company were exchanged, compared to its average volume of 69,499. The stock has a market cap of $70.45 million, a PE ratio of -7.67 and a beta of 2.42. Surface Oncology has a 52-week low of $2.47 and a 52-week high of $17.24. The company has a debt-to-equity ratio of 0.20, a current ratio of 11.28 and a quick ratio of 11.28. The company’s 50 day moving average is $3.28.

Surface Oncology (NASDAQ:SURF) last released its earnings results on Thursday, May 9th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.31. Surface Oncology had a negative net margin of 148.15% and a negative return on equity of 38.97%. The company had revenue of $14.43 million for the quarter, compared to the consensus estimate of $2.50 million. As a group, equities research analysts predict that Surface Oncology will post -1.97 EPS for the current year.



Institutional investors and hedge funds have recently bought and sold shares of the stock. American International Group Inc. raised its position in Surface Oncology by 54.3% during the fourth quarter. American International Group Inc. now owns 7,441 shares of the company’s stock worth $32,000 after acquiring an additional 2,620 shares during the period. Rhumbline Advisers acquired a new stake in shares of Surface Oncology during the 1st quarter worth approximately $54,000. Acadian Asset Management LLC acquired a new stake in shares of Surface Oncology during the 4th quarter worth approximately $56,000. Squarepoint Ops LLC acquired a new stake in shares of Surface Oncology during the 4th quarter worth approximately $178,000. Finally, Spark Investment Management LLC lifted its position in shares of Surface Oncology by 50.6% during the 1st quarter. Spark Investment Management LLC now owns 39,000 shares of the company’s stock worth $186,000 after buying an additional 13,100 shares during the period. Hedge funds and other institutional investors own 59.04% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Cowen restated a “hold” rating on shares of PDL BioPharma in a report on Thursday, May 9th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th.

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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