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

Surrozen, Inc. (NASDAQ:SRZN) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $45.00.

A number of brokerages have issued reports on SRZN. William Blair began coverage on shares of Surrozen in a research report on Thursday, August 20th. They set an “outperform” rating and a $51.00 target price on the stock. Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. HC Wainwright reissued a “buy” rating and set a $44.00 price target on shares of Surrozen in a research report on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th.

Insider Buying and Selling at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the sale, the insider directly owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Surrozen during the second quarter worth about $399,000. Perceptive Advisors LLC bought a new position in Surrozen in the 1st quarter valued at about $6,682,000. ADAR1 Capital Management LLC bought a new position in Surrozen in the 1st quarter valued at about $350,000. Renaissance Technologies LLC raised its position in shares of Surrozen by 117.1% in the 1st quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after buying an additional 26,500 shares in the last quarter. Finally, Eversept Partners LP raised its position in shares of Surrozen by 23.8% in the 4th quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock valued at $2,153,000 after buying an additional 18,289 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.

Surrozen Stock Performance

Shares of Surrozen stock opened at $16.94 on Friday. The firm has a 50-day moving average of $21.94 and a 200-day moving average of $25.15. Surrozen has a 52-week low of $11.39 and a 52-week high of $35.00. The stock has a market cap of $196.67 million, a PE ratio of -0.42 and a beta of 0.56.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.88. The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $0.47 million.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company developing regenerative medicines designed to activate the Wnt signaling pathway. Wnt signaling plays an important role in tissue development, repair and regeneration, and Surrozen’s approach is intended to stimulate the pathway selectively in specific tissues while limiting unwanted effects elsewhere in the body.

The company’s product candidates are based on engineered antibody therapeutics and its proprietary SWEETS platform. Surrozen has focused its research on potential treatments for diseases affecting the liver, gastrointestinal system and eyes, where impaired tissue repair or abnormal signaling may contribute to disease progression.