Surface Oncology (NASDAQ:SURF) Receives “Buy” Rating from Jonestrading

Posted by on Jun 5th, 2022

Surface Oncology (NASDAQ:SURF – Get Rating)‘s stock had its “buy” rating reissued by Jonestrading in a research note issued on Sunday, TipRanks reports. They presently have a $12.00 target price on the stock.

Several other research analysts have also issued reports on the company. TheStreet lowered Surface Oncology from a “c-” rating to a “d” rating in a research report on Monday, March 7th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Surface Oncology in a research report on Thursday, March 3rd. Finally, Zacks Investment Research lowered Surface Oncology from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Surface Oncology currently has a consensus rating of “Buy” and an average target price of $10.38.

SURF traded up $0.08 on Friday, hitting $1.93. The company had a trading volume of 928,511 shares, compared to its average volume of 714,196. The company has a market cap of $105.40 million, a PE ratio of -1.52 and a beta of 1.69. Surface Oncology has a 12-month low of $1.69 and a 12-month high of $9.37. The company has a quick ratio of 9.42, a current ratio of 9.42 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $3.51.

Surface Oncology (NASDAQ:SURF – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.48) by $0.61. The company had revenue of $30.00 million during the quarter. Surface Oncology had a negative return on equity of 41.62% and a negative net margin of 182.63%. On average, analysts anticipate that Surface Oncology will post -1.19 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its position in shares of Surface Oncology by 134.6% during the third quarter. BNP Paribas Arbitrage SA now owns 8,218 shares of the company’s stock worth $62,000 after purchasing an additional 4,715 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Surface Oncology during the first quarter worth $27,000. Citigroup Inc. increased its position in shares of Surface Oncology by 62.8% during the fourth quarter. Citigroup Inc. now owns 10,553 shares of the company’s stock worth $50,000 after purchasing an additional 4,071 shares in the last quarter. Spire Wealth Management acquired a new position in shares of Surface Oncology during the fourth quarter worth $53,000. Finally, Formidable Asset Management LLC acquired a new position in shares of Surface Oncology during the first quarter worth $33,000. 70.81% of the stock is owned by institutional investors.

About Surface Oncology (Get Rating)

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies in the United States. The company develops various antibodies that include NZV930, a fully human immunoglobulin isotype G4 monoclonal antibody for the production of extracellular adenosine; SRF617, a fully human IgG4 monoclonal antibody that inhibits CD39 enzymatic activity for the production of adenosine and the breakdown of adenosine triphosphate; SRF388 targeting interleukin 27; GSK4381562, an antibody targeting CD112R, an inhibitory protein expressed on natural killer and T cells; and SRF114 targeting the chemokine receptor CCR8.

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