Morgan Stanley Raises Position in Surface Oncology, Inc. (NASDAQ:SURF)

Morgan Stanley grew its holdings in shares of Surface Oncology, Inc. (NASDAQ:SURF) by 1,138.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,073,129 shares of the company’s stock after purchasing an additional 986,495 shares during the quarter. Morgan Stanley’s holdings in Surface Oncology were worth $9,916,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SURF. Optimum Investment Advisors acquired a new stake in shares of Surface Oncology during the 4th quarter worth $28,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Surface Oncology during the 3rd quarter worth $35,000. IHT Wealth Management LLC acquired a new stake in shares of Surface Oncology during the 3rd quarter worth $85,000. JPMorgan Chase & Co. increased its holdings in shares of Surface Oncology by 160,981.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,719 shares of the company’s stock worth $115,000 after buying an additional 17,708 shares during the last quarter. Finally, State Street Corp acquired a new stake in shares of Surface Oncology during the 3rd quarter worth $115,000. Institutional investors and hedge funds own 51.97% of the company’s stock.

NASDAQ:SURF opened at $6.63 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 7.94 and a quick ratio of 7.94. The firm has a 50-day moving average of $8.06 and a two-hundred day moving average of $9.21. The stock has a market cap of $276.66 million, a P/E ratio of -10.05 and a beta of 2.09. Surface Oncology, Inc. has a 1-year low of $2.32 and a 1-year high of $14.40.

Surface Oncology (NASDAQ:SURF) last posted its quarterly earnings data on Monday, March 8th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $1.43. The firm had revenue of $87.57 million during the quarter, compared to analysts’ expectations of $85.00 million. As a group, equities analysts expect that Surface Oncology, Inc. will post 0.1 earnings per share for the current year.

In other news, CEO Jeff Goater sold 2,500 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $12.50, for a total transaction of $31,250.00. Following the transaction, the chief executive officer now owns 264,500 shares of the company’s stock, valued at $3,306,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 9,000 shares of company stock valued at $104,785. 35.00% of the stock is currently owned by corporate insiders.

Several analysts recently issued reports on SURF shares. TheStreet upgraded Surface Oncology from a “d” rating to a “c-” rating in a report on Monday. Zacks Investment Research upgraded Surface Oncology from a “sell” rating to a “hold” rating in a report on Friday, April 2nd. Jonestrading reiterated a “buy” rating and issued a $18.00 price target on shares of Surface Oncology in a report on Sunday, April 11th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $14.00 price target on shares of Surface Oncology in a report on Monday, March 22nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Surface Oncology currently has an average rating of “Buy” and an average price target of $13.00.

About Surface Oncology

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 (IgG4) 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; SRF813 targeting CD112R, an inhibitory protein expressed on natural killer and T cells; and SRF114 targeting the chemokine receptor CCR8 to deplete immuno-suppressive cells.

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Institutional Ownership by Quarter for Surface Oncology (NASDAQ:SURF)

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