Surrozen, Inc. (NASDAQ:SRZN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.00.

A number of brokerages recently issued reports on SRZN. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $44.00 price target (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, TD Cowen initiated coverage on shares of Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating on the stock.

Surrozen Trading Down 2.7%

NASDAQ SRZN opened at $26.37 on Friday. The firm’s fifty day simple moving average is $28.66 and its two-hundred day simple moving average is $23.43. Surrozen has a 12-month low of $7.37 and a 12-month high of $35.00. The firm has a market capitalization of $306.16 million, a P/E ratio of -0.70 and a beta of 0.59.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($10.56). Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%.The firm had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $4.00 million. As a group, sell-side analysts predict that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Tcg Crossover Gp Ii, Llc purchased 106,658 shares of Surrozen stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average price of $24.69 per share, for a total transaction of $2,633,386.02. Following the transaction, the insider directly owned 736,554 shares in the company, valued at approximately $18,185,518.26. This trade represents a 16.93% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles O. Williams sold 2,036 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $67,859.88. Following the transaction, the chief operating officer owned 16,571 shares of the company’s stock, valued at approximately $552,311.43. This trade represents a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 170,878 shares of company stock worth $4,232,976 and have sold 8,144 shares worth $271,440. Company insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SRZN. China Universal Asset Management Co. Ltd. raised its holdings in Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in Surrozen in the 4th quarter valued at about $99,000. Citadel Advisors LLC raised its holdings in Surrozen by 32.8% in the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after acquiring an additional 3,424 shares during the last quarter. Marshall Wace LLP acquired a new stake in Surrozen in the 4th quarter valued at about $247,000. Finally, Geode Capital Management LLC raised its holdings in Surrozen by 22.6% in the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after acquiring an additional 5,702 shares during the last quarter. Institutional investors and hedge funds own 66.57% of the company’s stock.

About Surrozen

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.