Surface Oncology (NASDAQ:SURF) Stock Rating Lowered by Zacks Investment Research

Surface Oncology (NASDAQ:SURF) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Surface Oncology, Inc. is a clinical-stage immuno-oncology company. It develops therapies for the treatment of cancer. The company’s product pipeline includes CD47, CD73, SRF231, SRF373, SRF617, SRF388 and SRF231 which are in clinical stage. Surface Oncology is based in Cambridge, Massachusetts. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Surface Oncology from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Cowen reiterated a “buy” rating on shares of Surface Oncology in a research report on Wednesday, November 13th.

SURF traded down $0.16 during midday trading on Tuesday, hitting $1.46. The company had a trading volume of 1,777 shares, compared to its average volume of 47,381. The company has a debt-to-equity ratio of 0.28, a quick ratio of 7.34 and a current ratio of 7.34. The company has a market capitalization of $51.03 million, a PE ratio of -4.67 and a beta of 2.32. Surface Oncology has a twelve month low of $1.15 and a twelve month high of $9.94. The firm’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $2.51.

Surface Oncology (NASDAQ:SURF) last posted its quarterly earnings data 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, sell-side analysts anticipate that Surface Oncology will post -1.97 EPS for the current fiscal year.

Several large investors have recently modified their holdings of SURF. EcoR1 Capital LLC boosted its stake in Surface Oncology by 2.2% during the 2nd quarter. EcoR1 Capital LLC now owns 2,312,688 shares of the company’s stock worth $6,522,000 after acquiring an additional 49,200 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Surface Oncology by 8.3% in the 2nd quarter. Acadian Asset Management LLC now owns 100,120 shares of the company’s stock worth $283,000 after purchasing an additional 7,640 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Surface Oncology during the 2nd quarter valued at $119,000. Jane Street Group LLC purchased a new stake in shares of Surface Oncology during the 2nd quarter valued at $82,000. Finally, Tower Research Capital LLC TRC increased its holdings in Surface Oncology by 323.9% in 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. Institutional investors own 56.56% of the company’s stock.

Surface Oncology Company Profile

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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