Northern Trust Corp increased its stake in Surface Oncology Inc (NASDAQ:SURF) by 50.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,437 shares of the company’s stock after purchasing an additional 39,964 shares during the quarter. Northern Trust Corp’s holdings in Surface Oncology were worth $506,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of SURF. Meeder Asset Management Inc. purchased a new stake in Surface Oncology in the fourth quarter worth approximately $30,000. Acadian Asset Management LLC purchased a new stake in Surface Oncology in the fourth quarter worth approximately $56,000. Strs Ohio boosted its holdings in Surface Oncology by 121.9% in the fourth quarter. Strs Ohio now owns 32,400 shares of the company’s stock worth $137,000 after purchasing an additional 17,800 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Surface Oncology in the third quarter worth approximately $216,000. Finally, Bank of New York Mellon Corp boosted its holdings in Surface Oncology by 302.2% in the fourth quarter. Bank of New York Mellon Corp now owns 61,100 shares of the company’s stock worth $259,000 after purchasing an additional 45,910 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.
Several equities research analysts recently issued reports on SURF shares. Zacks Investment Research upgraded shares of Surface Oncology from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Saturday, March 9th. ValuEngine cut shares of Surface Oncology from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Cowen reiterated a “buy” rating on shares of Surface Oncology in a research note on Tuesday, February 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $17.63.
Surface Oncology (NASDAQ:SURF) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.67) by $0.50. The business had revenue of $9.76 million for the quarter, compared to analysts’ expectations of $2.00 million. Surface Oncology had a negative net margin of 11.10% and a negative return on equity of 8.52%. Analysts expect that Surface Oncology Inc will post -1.85 earnings per share for the current year.
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Surface Oncology 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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