Surrozen, Inc. (NASDAQ:SRZN) Short Interest Down 37.3% in June

Surrozen, Inc. (NASDAQ:SRZN) saw a large decrease in short interest in June. As of June 15th, there was short interest totaling 346,034 shares, a decrease of 37.3% from the May 31st total of 551,841 shares. Approximately 4.4% of the company’s stock are short sold. Based on an average daily volume of 97,035 shares, the days-to-cover ratio is currently 3.6 days.

Surrozen Trading Down 1.4%

NASDAQ SRZN traded down $0.35 during trading hours on Thursday, hitting $25.16. The company’s stock had a trading volume of 66,004 shares, compared to its average volume of 117,924. The company has a market capitalization of $292.17 million, a PE ratio of -0.67 and a beta of 0.51. Surrozen has a 52 week low of $8.00 and a 52 week high of $35.00. The company’s 50-day simple moving average is $26.68 and its two-hundred day simple moving average is $25.23.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $4.00 million. Research analysts anticipate that Surrozen will post -7.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. Zacks Research downgraded shares of Surrozen from a “hold” rating to a “strong sell” rating in a research report on Monday. TD Cowen started coverage on shares of Surrozen in a research note on Tuesday, April 21st. They set a “buy” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Surrozen currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Transactions at Surrozen

In related news, COO Charles O. 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 completion of the sale, the chief operating officer directly owned 16,571 shares of the company’s stock, valued at $552,311.43. The trade was a 10.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Yang Li sold 1,584 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $52,794.72. Following the transaction, the vice president directly owned 17,216 shares in the company, valued at approximately $573,809.28. This trade represents a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,144 shares of company stock valued at $271,440 in the last 90 days. 31.74% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surrozen

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its position 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 buying an additional 500 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Surrozen during the 4th quarter worth $99,000. Marshall Wace LLP bought a new stake in shares of Surrozen in the 4th quarter worth $247,000. ADAR1 Capital Management LLC bought a new stake in shares of Surrozen in the 1st quarter worth $350,000. Finally, Ieq Capital LLC bought a new position in shares of Surrozen during the fourth quarter valued at about $304,000. Institutional investors own 66.57% of the company’s stock.

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.