Surface Oncology Inc (NASDAQ:SURF) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 138,100 shares, a drop of 8.5% from the June 30th total of 150,900 shares. Based on an average daily trading volume, of 67,300 shares, the short-interest ratio is presently 2.1 days. Approximately 1.3% of the shares of the stock are short sold.

A number of brokerages recently issued reports on SURF. ValuEngine upgraded 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 Thursday, May 9th. Finally, Zacks Investment Research downgraded Surface Oncology from a “hold” rating to a “sell” rating in a research report on Tuesday.

NASDAQ SURF traded up $0.03 during trading hours on Thursday, reaching $2.05. 22,103 shares of the stock traded hands, compared to its average volume of 64,461. The stock has a 50 day simple moving average of $2.46 and a two-hundred day simple moving average of $3.87. Surface Oncology has a 1 year low of $1.95 and a 1 year high of $12.65. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.77 and a quick ratio of 8.77. The company has a market cap of $57.11 million, a price-to-earnings ratio of -6.21 and a beta of 2.38.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SURF. BlackRock Inc. boosted its position in shares of Surface Oncology by 82.5% in the fourth quarter. BlackRock Inc. now owns 1,097,041 shares of the company’s stock worth $4,651,000 after acquiring an additional 496,072 shares during the last quarter. Bank of New York Mellon Corp raised 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 valued at $259,000 after buying an additional 45,910 shares during the period. Northern Trust Corp raised its holdings in Surface Oncology by 50.3% in the fourth quarter. Northern Trust Corp now owns 119,437 shares of the company’s stock valued at $506,000 after buying an additional 39,964 shares during the period. Geode Capital Management LLC raised its holdings in Surface Oncology by 50.5% in the fourth quarter. Geode Capital Management LLC now owns 116,745 shares of the company’s stock valued at $494,000 after buying an additional 39,174 shares during the period. Finally, Bank of America Corp DE raised its holdings in Surface Oncology by 8.3% in the fourth quarter. Bank of America Corp DE now owns 88,773 shares of the company’s stock valued at $376,000 after buying an additional 6,795 shares during the period. Institutional investors and hedge funds own 58.83% 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.

See Also: Discount Rate

Receive News & Ratings for Surface Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surface Oncology and related companies with MarketBeat.com's FREE daily email newsletter.