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

Shares of Surrozen, Inc. (NASDAQ:SRZN) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $42.00.

SRZN has been the subject of several research reports. Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. HC Wainwright reissued a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Finally, TD Cowen began coverage on shares of Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating on the stock.

Surrozen Price Performance

Shares of Surrozen stock opened at $21.78 on Thursday. The firm has a market cap of $252.87 million, a price-to-earnings ratio of -0.58 and a beta of 0.52. The stock’s 50-day moving average is $23.14 and its 200-day moving average is $25.33. Surrozen has a one year low of $9.03 and a one year high of $35.00.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share 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. On average, equities analysts expect that Surrozen will post -7.2 EPS for the current year.

Insider Activity

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. Following the transaction, the insider owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 31.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its position in Surrozen by 50.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of Surrozen in the fourth quarter valued at approximately $99,000. Citadel Advisors LLC grew its position in 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 acquired a new stake in Surrozen during the fourth quarter worth approximately $247,000. Finally, Geode Capital Management LLC increased its stake in Surrozen by 22.6% during the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after acquiring an additional 5,702 shares during the period. 66.57% of the stock is owned by institutional investors and hedge funds.

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.