Surrozen, Inc. (NASDAQ:SRZN) Given Consensus Rating of “Moderate Buy” by Analysts

Surrozen, Inc. (NASDAQ:SRZN) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $42.00.

A number of brokerages have recently commented on SRZN. Wall Street Zen raised Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research lowered shares of Surrozen from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of Surrozen in a research report on Tuesday, March 24th. HC Wainwright reissued a “buy” rating and set a $44.00 target price (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. Finally, TD Cowen began coverage on shares of Surrozen in a research report on Tuesday, April 21st. They issued a “buy” rating for the company.

Insider Buying and Selling

In related news, COO Charles O. Williams sold 2,036 shares of the stock in a transaction on 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 in the company, valued at $552,311.43. This represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Craig C. Parker sold 4,524 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the transaction, the chief executive officer directly owned 16,553 shares of the company’s stock, valued at approximately $551,711.49. This represents a 21.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,144 shares of company stock valued at $271,440 over the last 90 days. 31.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Surrozen

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empery Asset Management LP acquired a new stake in Surrozen during the 4th quarter valued at approximately $2,350,000. 5AM Venture Management LLC lifted its position in shares of Surrozen by 25.0% in the 4th quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after purchasing an additional 77,500 shares during the period. Spruce Street Capital LP acquired a new position in shares of Surrozen in the 4th quarter worth approximately $9,764,000. 683 Capital Management LLC bought a new stake in shares of Surrozen in the 4th quarter valued at $949,000. Finally, Acuta Capital Partners LLC boosted its stake in shares of Surrozen by 5.0% in the 3rd 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. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Stock Performance

Shares of NASDAQ:SRZN opened at $23.50 on Friday. Surrozen has a 52-week low of $8.20 and a 52-week high of $35.00. The company has a market capitalization of $272.83 million, a PE ratio of -0.63 and a beta of 0.51. The company has a fifty day moving average of $25.86 and a 200-day moving average of $25.30.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $4.00 million. On average, equities analysts forecast that Surrozen will post -7.2 EPS for the current fiscal year.

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.