Surface Oncology (SURF) Sets New 1-Year Low at $7.69

Surface Oncology Inc (NASDAQ:SURF)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.69 and last traded at $8.01, with a volume of 9341 shares. The stock had previously closed at $8.61.

SURF has been the subject of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of Surface Oncology in a report on Tuesday, August 14th. Zacks Investment Research raised Surface Oncology from a “sell” rating to a “hold” rating in a report on Friday, October 5th. Finally, Robert W. Baird initiated coverage on Surface Oncology in a report on Tuesday, September 18th. They issued an “outperform” rating and a $23.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.25.

Surface Oncology (NASDAQ:SURF) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.03. The business had revenue of $2.43 million during the quarter. Analysts anticipate that Surface Oncology Inc will post -2.38 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Atlas Venture Associates IX LLC acquired a new stake in Surface Oncology in the second quarter worth approximately $75,767,000. NEA Management Company LLC acquired a new stake in Surface Oncology in the second quarter worth approximately $54,070,000. FMR LLC acquired a new stake in Surface Oncology in the second quarter worth approximately $47,972,000. Citadel Advisors LLC acquired a new stake in Surface Oncology in the second quarter worth approximately $14,119,000. Finally, BlackRock Inc. acquired a new stake in Surface Oncology in the second quarter worth approximately $10,230,000. 63.32% of the stock is owned by institutional investors and hedge funds.

About Surface Oncology (NASDAQ:SURF)

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies. The company's lead product candidate is the SRF231 that is in Phase I clinical trial targeting protein called cluster of differentiation (CD) 47. It is also developing SRF373 inhibiting CD73; SRF617 inhibiting CD39; and SRF388, an antibody targeting interleukin 27.

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