Surrozen, Inc. (NASDAQ:SRZN) Short Interest Update

Surrozen, Inc. (NASDAQ:SRZN) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 709,757 shares, a growth of 105.1% from the June 15th total of 346,034 shares. Based on an average daily volume of 229,914 shares, the days-to-cover ratio is presently 3.1 days. Currently, 9.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Several brokerages have commented on SRZN. Zacks Research downgraded Surrozen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. HC Wainwright restated a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. Finally, TD Cowen initiated coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Buying and Selling

In other news, COO Charles O. Williams sold 2,036 shares of Surrozen 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 completion of the sale, the chief operating officer owned 16,571 shares in the company, valued at approximately $552,311.43. This trade represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Craig C. Parker sold 4,524 shares of the firm’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 transaction of $150,784.92. Following the completion of the transaction, the chief executive officer owned 16,553 shares in the company, valued at $551,711.49. This represents a 21.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 8,144 shares of company stock worth $271,440. Corporate insiders own 31.74% of the company’s stock.

Institutional Investors Weigh In On Surrozen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its position in shares of Surrozen by 50.0% in the fourth 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 in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Surrozen in the fourth quarter worth approximately $99,000. Citadel Advisors LLC grew its holdings in shares of Surrozen by 32.8% during the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after buying an additional 3,424 shares in the last quarter. Marshall Wace LLP purchased a new stake in Surrozen during the 4th quarter valued at about $247,000. Finally, Geode Capital Management LLC increased its holdings 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 valued at $277,000 after purchasing an additional 5,702 shares during the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Price Performance

Shares of NASDAQ SRZN opened at $20.52 on Friday. The firm has a 50-day simple moving average of $24.82 and a two-hundred day simple moving average of $25.28. Surrozen has a 1 year low of $8.20 and a 1 year high of $35.00. The company has a market cap of $238.24 million, a P/E ratio of -0.55 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last issued its earnings results 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 business had revenue of $5.00 million during the quarter, compared to analyst estimates of $4.00 million. As a group, equities research analysts expect that Surrozen will post -7.2 EPS for the current 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.