Millennium Management LLC Takes $8.72 Million Position in Surface Oncology Inc (SURF)

Millennium Management LLC purchased a new stake in shares of Surface Oncology Inc (NASDAQ:SURF) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 534,851 shares of the company’s stock, valued at approximately $8,723,000. Millennium Management LLC owned approximately 1.94% of Surface Oncology at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of Surface Oncology during the second quarter valued at $248,000. Laurion Capital Management LP bought a new position in shares of Surface Oncology during the second quarter valued at $326,000. Dean Capital Investments Management LLC bought a new position in shares of Surface Oncology during the second quarter valued at $489,000. Schwab Charles Investment Management Inc. bought a new position in shares of Surface Oncology during the second quarter valued at $518,000. Finally, Bank of America Corp DE bought a new position in shares of Surface Oncology during the second quarter valued at $1,317,000. Hedge funds and other institutional investors own 63.32% of the company’s stock.

Surface Oncology stock opened at $9.08 on Tuesday. Surface Oncology Inc has a one year low of $8.43 and a one year high of $18.18.

Surface Oncology (NASDAQ:SURF) last released its quarterly earnings data on Tuesday, August 14th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.03. The business had revenue of $2.43 million for the quarter. Analysts anticipate that Surface Oncology Inc will post -2.38 earnings per share for the current year.

Several equities analysts have recently weighed in on SURF shares. Cowen restated a “buy” rating on shares of Surface Oncology in a report on Tuesday, August 14th. Zacks Investment Research upgraded Surface Oncology from a “sell” rating to a “hold” rating in a report on Friday. Finally, Robert W. Baird initiated coverage on Surface Oncology in a report on Tuesday, September 18th. They set an “outperform” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Surface Oncology presently has a consensus rating of “Buy” and a consensus price target of $20.25.

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

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