Surrozen (NASDAQ:SRZN) Stock Rating Lowered by Zacks Research

Surrozen (NASDAQ:SRZN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research firms also recently commented on SRZN. HC Wainwright reissued a “buy” rating and issued a $44.00 target price (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Surrozen in a research note on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. TD Cowen assumed coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Surrozen Price Performance

Shares of Surrozen stock opened at $25.95 on Monday. The firm has a market cap of $301.28 million, a price-to-earnings ratio of -0.69 and a beta of 0.51. Surrozen has a 52-week low of $8.00 and a 52-week high of $35.00. The stock has a 50-day simple moving average of $26.81 and a 200-day simple moving average of $25.22.

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

Insider Buying and Selling

In other Surrozen news, COO Charles O. Williams sold 2,036 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $67,859.88. Following the transaction, the chief operating officer directly owned 16,571 shares in the company, valued at $552,311.43. The trade was a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yang Li sold 1,584 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 $52,794.72. Following the sale, the vice president directly owned 17,216 shares in the company, valued at $573,809.28. This represents a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,144 shares of company stock worth $271,440 in the last quarter. 31.74% of the stock is owned by corporate insiders.

Institutional Trading of Surrozen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC bought a new stake in Surrozen during the 1st quarter worth about $6,682,000. ADAR1 Capital Management LLC bought a new position in shares of Surrozen in the 1st quarter valued at about $350,000. Renaissance Technologies LLC grew its position in shares of Surrozen by 117.1% during the 1st quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock worth $1,431,000 after buying an additional 26,500 shares during the period. Ikarian Capital LLC bought a new stake in shares of Surrozen during the fourth quarter worth approximately $1,487,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Surrozen during the fourth quarter worth approximately $335,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

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.