Schwab Charles Investment Management Inc. bought a new stake in Surface Oncology Inc (NASDAQ:SURF) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 31,728 shares of the company’s stock, valued at approximately $518,000.
Several other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in shares of Surface Oncology in the second quarter valued at $248,000. Dean Capital Investments Management LLC bought a new position in shares of Surface Oncology in the second quarter valued at $489,000. Victory Capital Management Inc. bought a new position in shares of Surface Oncology in the second quarter valued at $9,263,000. Finally, Atlas Venture Associates IX LLC bought a new position in shares of Surface Oncology in the second quarter valued at $75,767,000. 63.32% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on SURF. Zacks Investment Research raised shares of Surface Oncology from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, July 24th. Robert W. Baird began coverage on shares of Surface Oncology in a research note on Tuesday, September 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Cowen reissued a “buy” rating on shares of Surface Oncology in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $20.25.
Surface Oncology (NASDAQ:SURF) last released its earnings results on Tuesday, August 14th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.03. The firm had revenue of $2.43 million during the quarter. Sell-side analysts forecast that Surface Oncology Inc will post -2.38 EPS for the current fiscal year.
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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