Surrozen (NASDAQ:SRZN) Posts Earnings Results, Misses Expectations By $2.44 EPS

Surrozen (NASDAQ:SRZN) posted its quarterly earnings data on Friday. The company reported ($3.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($2.44), Zacks reports. Surrozen had a negative net margin of 274.42% and a negative return on equity of 545.43%. The company had revenue of $0.98 million during the quarter.

Surrozen Stock Down 2.4%

Shares of Surrozen stock traded down $0.30 during trading on Friday, hitting $12.20. The stock had a trading volume of 90,404 shares, compared to its average volume of 35,518. Surrozen has a 1 year low of $5.90 and a 1 year high of $18.17. The stock has a 50 day simple moving average of $12.80 and a 200 day simple moving average of $10.51. The company has a market capitalization of $104.55 million, a PE ratio of -0.85 and a beta of 0.64.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.50.

Institutional Trading of Surrozen

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Surrozen by 22.6% in the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after buying an additional 5,702 shares during the period. Armistice Capital LLC acquired a new stake in Surrozen during the 2nd quarter worth about $536,000. Finally, Vanguard Group Inc. grew its stake in Surrozen by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock valued at $3,433,000 after acquiring an additional 47,468 shares in the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

About Surrozen

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.