Zacks Investment Research Downgrades Surface Oncology (SURF) to Sell

Zacks Investment Research lowered shares of Surface Oncology (NASDAQ:SURF) from a hold rating to a sell rating in a research note published on Friday morning.

According to Zacks, “Surface Oncology, Inc. is a clinical-stage immuno-oncology company. It develops therapies for the treatment of cancer. The company’s product pipeline includes CD47, CD73, SRF231, SRF373, SRF617, SRF388 and SRF231 which are in clinical stage. Surface Oncology is based in Cambridge, Massachusetts. “

Several other research analysts have also commented on SURF. Cowen restated a buy rating on shares of Surface Oncology in a report on Wednesday, June 13th. Evercore ISI assumed coverage on shares of 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 assumed coverage on shares of Surface Oncology in a research note on Monday, May 14th. They issued a neutral rating and a $17.00 price target for the company.

Shares of NASDAQ SURF opened at $9.02 on Friday. Surface Oncology has a 12 month low of $8.64 and a 12 month high of $18.18.

Surface Oncology (NASDAQ:SURF) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.73) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.03. The company had revenue of $2.43 million during the quarter. equities analysts forecast that Surface Oncology will post -2.1 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in shares of Surface Oncology in the 2nd quarter worth about $248,000. Laurion Capital Management LP bought a new position in shares of Surface Oncology in the 2nd quarter worth about $326,000. Dean Capital Investments Management LLC bought a new position in shares of Surface Oncology in the 2nd quarter worth about $489,000. Schwab Charles Investment Management Inc. bought a new position in shares of Surface Oncology in the 2nd quarter worth about $518,000. Finally, Bank of America Corp DE bought a new position in shares of Surface Oncology in the 2nd quarter worth about $1,317,000. Institutional investors own 63.32% 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'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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