Surface Oncology Inc (NASDAQ:SURF) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 189,500 shares, an increase of 18.4% from the September 30th total of 160,000 shares. Based on an average daily volume of 53,400 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.7% of the company’s shares are short sold.

Institutional investors and hedge funds have recently modified their holdings of the company. Paradigm Capital Management Inc. NY acquired a new position in shares of Surface Oncology in the 2nd quarter worth approximately $28,000. Weiss Asset Management LP acquired a new position in shares of Surface Oncology in the 2nd quarter worth approximately $29,000. Morgan Stanley grew its position in shares of Surface Oncology by 1,177.4% in the 2nd quarter. Morgan Stanley now owns 22,751 shares of the company’s stock worth $64,000 after acquiring an additional 20,970 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Surface Oncology by 323.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 25,497 shares of the company’s stock worth $36,000 after acquiring an additional 19,482 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Surface Oncology in the 2nd quarter worth approximately $82,000. Institutional investors own 56.57% of the company’s stock.

Shares of Surface Oncology stock traded down $0.02 during trading hours on Friday, reaching $1.83. The stock had a trading volume of 26,500 shares, compared to its average volume of 43,556. The company has a current ratio of 7.34, a quick ratio of 8.77 and a debt-to-equity ratio of 0.28. Surface Oncology has a 1 year low of $1.15 and a 1 year high of $9.94. The firm has a 50 day simple moving average of $1.46 and a two-hundred day simple moving average of $2.55. The firm has a market capitalization of $50.47 million, a price-to-earnings ratio of -5.55 and a beta of 2.32.

Surface Oncology (NASDAQ:SURF) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.58) by ($0.03). Surface Oncology had a negative return on equity of 48.88% and a negative net margin of 176.50%. The business had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $2.50 million. Sell-side analysts forecast that Surface Oncology will post -1.88 EPS for the current year.

A number of research firms have recently commented on SURF. Zacks Investment Research upgraded Surface Oncology from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a report on Thursday. Cowen restated a “buy” rating on shares of Surface Oncology in a report on Wednesday. Finally, ValuEngine upgraded Surface Oncology from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

About Surface Oncology

Surface Oncology, Inc, a clinical-stage immuno-oncology company, engages in the development of cancer therapies. The company develops human immunoglobulin isotype G4 monoclonal antibodies, including SRF231 inhibiting CD47; NZV930 inhibiting CD73; SRF617 inhibiting CD39; and SRF388 targeting interleukin 27.

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