Surface Oncology (SURF) Reaches New 52-Week Low at $8.76

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Shares of Surface Oncology Inc (NASDAQ:SURF) hit a new 52-week low during trading on Monday . The company traded as low as $8.76 and last traded at $8.94, with a volume of 166243 shares trading hands. The stock had previously closed at $10.10.

A number of brokerages have recently commented on SURF. Cowen reaffirmed a “buy” rating on shares of Surface Oncology in a research note on Wednesday, June 13th. Zacks Investment Research cut Surface Oncology from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Evercore ISI began coverage on Surface Oncology in a research note on Monday, May 14th. They issued an “outperform” rating and a $26.00 price target for the company. Finally, Goldman Sachs Group began coverage on Surface Oncology in a research note on Monday, May 14th. They issued a “neutral” rating and a $17.00 price target for the company.

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, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.03. The business had revenue of $2.43 million during the quarter.

Several institutional investors and hedge funds have recently modified their holdings of SURF. Atlas Venture Associates IX LLC acquired a new position in shares of Surface Oncology in the 2nd quarter valued at approximately $75,767,000. NEA Management Company LLC acquired a new position in shares of Surface Oncology in the 2nd quarter valued at approximately $54,070,000. FMR LLC acquired a new position in shares of Surface Oncology in the 2nd quarter valued at approximately $47,972,000. Citadel Advisors LLC acquired a new position in shares of Surface Oncology in the 2nd quarter valued at approximately $14,119,000. Finally, BlackRock Inc. acquired a new position in shares of Surface Oncology in the 2nd quarter valued at approximately $10,230,000. Institutional investors and hedge funds own 50.81% of the company’s stock.

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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