Insider Selling: Surrozen (NASDAQ:SRZN) COO Sells 2,036 Shares of Stock

Surrozen, Inc. (NASDAQ:SRZN) COO Charles Williams sold 2,036 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $67,859.88. Following the transaction, the chief operating officer owned 16,571 shares in the company, valued at approximately $552,311.43. This represents a 10.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Surrozen Trading Up 1.8%

Shares of SRZN traded up $0.57 during midday trading on Tuesday, reaching $32.64. 95,295 shares of the company were exchanged, compared to its average volume of 113,375. The stock has a 50-day moving average price of $28.15 and a 200-day moving average price of $21.98. The company has a market cap of $375.03 million, a price-to-earnings ratio of -0.98 and a beta of 0.59. Surrozen, Inc. has a 1-year low of $5.90 and a 1-year high of $35.00.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($7.59) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($6.30). The company had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.66 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 7,476.67%. Equities research analysts anticipate that Surrozen, Inc. will post -4.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on SRZN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 price target on shares of Surrozen in a research note on Tuesday, March 24th. TD Cowen assumed coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $36.00 price target (up from $32.00) on shares of Surrozen in a research note on Tuesday, March 24th. Finally, Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Surrozen currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Hedge Funds Weigh In On Surrozen

Several institutional investors have recently made changes to their positions in SRZN. Geode Capital Management LLC grew its holdings in shares of Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after purchasing an additional 5,702 shares during the last quarter. Armistice Capital LLC bought a new position in shares of Surrozen during the second quarter valued at approximately $536,000. Vanguard Group Inc. grew its holdings in shares of Surrozen by 21.7% during the third quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock valued at $3,433,000 after purchasing an additional 47,468 shares during the last quarter. Acuta Capital Partners LLC grew its holdings in shares of Surrozen by 5.0% during the third quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock valued at $2,299,000 after purchasing an additional 8,415 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Surrozen during the third quarter valued at approximately $889,000. 66.57% of the stock is owned by institutional investors.

Surrozen Company Profile

Surrozen, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapeutic antibodies that target the Wnt signaling pathway for applications in tissue repair, regeneration and oncology. Founded in 2012 and headquartered in South San Francisco, California, the company leverages its proprietary SurroBody platform to design bispecific antibody molecules capable of modulating Wnt receptor activity with enhanced tissue specificity.

The SurroBody platform enables the generation of high-affinity, dual-binding antibodies engineered to either activate or inhibit Wnt signaling, a pathway critical to cell proliferation, differentiation and homeostasis.