Stock Traders Purchase High Volume of Call Options on Surface Oncology (NASDAQ:SURF)


Share on StockTwits

Surface Oncology, Inc. (NASDAQ:SURF) saw unusually large options trading activity on Monday. Traders purchased 7,030 call options on the company. This represents an increase of 1,598% compared to the typical daily volume of 414 call options.

Surface Oncology stock opened at $7.33 on Tuesday. The company’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $9.17. The stock has a market cap of $318.29 million, a price-to-earnings ratio of -11.11 and a beta of 2.09. Surface Oncology has a 52 week low of $2.39 and a 52 week high of $14.40. The company has a current ratio of 7.94, a quick ratio of 7.94 and a debt-to-equity ratio of 0.17.

Surface Oncology (NASDAQ:SURF) last released its earnings results on Monday, March 8th. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $1.43. The firm had revenue of $87.57 million during the quarter, compared to analyst estimates of $85.00 million. Research analysts expect that Surface Oncology will post 0.1 earnings per share for the current fiscal year.

In other news, CEO Jeff Goater sold 2,500 shares of Surface Oncology stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $12.50, for a total value of $31,250.00. Following the completion of the transaction, the chief executive officer now directly owns 264,500 shares of the company’s stock, valued at approximately $3,306,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 5,000 shares of company stock worth $61,275. Insiders own 35.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC grew its stake in shares of Surface Oncology by 40.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 102,100 shares of the company’s stock worth $704,000 after purchasing an additional 29,500 shares during the last quarter. Morgan Stanley lifted its position in shares of Surface Oncology by 1,138.7% during the 4th quarter. Morgan Stanley now owns 1,073,129 shares of the company’s stock valued at $9,916,000 after acquiring an additional 986,495 shares during the last quarter. Optimum Investment Advisors bought a new stake in shares of Surface Oncology during the 4th quarter worth $28,000. GSA Capital Partners LLP acquired a new stake in shares of Surface Oncology during the fourth quarter worth $247,000. Finally, Quantitative Systematic Strategies LLC lifted its holdings in shares of Surface Oncology by 19.7% during the fourth quarter. Quantitative Systematic Strategies LLC now owns 28,182 shares of the company’s stock valued at $260,000 after purchasing an additional 4,633 shares during the last quarter. Hedge funds and other institutional investors own 51.97% of the company’s stock.

A number of research analysts recently issued reports on the company. TheStreet upgraded Surface Oncology from a “d” rating to a “c-” rating in a research report on Monday, April 19th. Jonestrading reissued a “buy” rating and set a $18.00 price target on shares of Surface Oncology in a report on Sunday, April 11th. Zacks Investment Research cut shares of Surface Oncology from a “hold” rating to a “sell” rating in a report on Thursday, April 29th. Finally, Robert W. Baird reissued a “buy” rating and set a $14.00 target price on shares of Surface Oncology in a research note on Monday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus 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.

Read More: What are municipal bonds?

Receive News & Ratings for Surface Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surface Oncology and related companies with MarketBeat.com's FREE daily email newsletter.