Short Interest in Surface Oncology Inc (NASDAQ:SURF) Increases By 14.5%
Surface Oncology Inc (NASDAQ:SURF) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 158,100 shares, a growth of 14.5% from the July 31st total of 138,100 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average trading volume of 59,400 shares, the short-interest ratio is currently 2.7 days.
NASDAQ:SURF traded down $0.10 during mid-day trading on Friday, reaching $2.07. The stock had a trading volume of 8,036 shares, compared to its average volume of 13,840. The company has a market capitalization of $59.90 million, a price-to-earnings ratio of -6.27 and a beta of 2.32. Surface Oncology has a 1-year low of $1.85 and a 1-year high of $12.65. The stock’s 50 day simple moving average is $2.10 and its two-hundred day simple moving average is $3.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.77 and a quick ratio of 8.77.
Surface Oncology (NASDAQ:SURF) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.62) by ($0.02). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $2.50 million. Surface Oncology had a negative return on equity of 44.63% and a negative net margin of 168.44%. Sell-side analysts anticipate that Surface Oncology will post -1.9 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of SURF. Bank of America Corp DE grew its stake 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 worth $376,000 after purchasing an additional 6,795 shares in the last quarter. Rhumbline Advisers acquired a new position in Surface Oncology in the first quarter valued at approximately $54,000. Spark Investment Management LLC boosted its stake in Surface Oncology by 50.6% in the first quarter. Spark Investment Management LLC now owns 39,000 shares of the company’s stock valued at $186,000 after acquiring an additional 13,100 shares during the period. Acadian Asset Management LLC boosted its stake in Surface Oncology by 593.8% in the first quarter. Acadian Asset Management LLC now owns 92,480 shares of the company’s stock valued at $441,000 after acquiring an additional 79,151 shares during the period. Finally, Paradigm Capital Management Inc. NY acquired a new position in Surface Oncology in the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 56.49% 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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