Stock Traders Buy Large Volume of Call Options on Surrozen (NASDAQ:SRZN)

Surrozen, Inc. (NASDAQ:SRZN) was the recipient of some unusual options trading on Monday. Traders bought 4,277 call options on the company. This represents an increase of 233% compared to the average daily volume of 1,283 call options.

Surrozen Stock Down 5.5%

SRZN traded down $1.35 during trading on Tuesday, reaching $23.41. The company had a trading volume of 684,248 shares, compared to its average volume of 251,178. The stock has a market cap of $271.73 million, a P/E ratio of -0.58 and a beta of 0.47. The business has a 50 day simple moving average of $23.60 and a 200-day simple moving average of $25.12. Surrozen has a 52 week low of $11.39 and a 52 week high of $37.83.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.88. The firm had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $0.47 million. As a group, equities research analysts expect that Surrozen will post -1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SRZN. HC Wainwright restated a “buy” rating and issued a $54.00 target price (up from $44.00) on shares of Surrozen in a report on Friday, September 25th. William Blair initiated coverage on shares of Surrozen in a report on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Finally, Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

Insider Activity at Surrozen

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

Hedge Funds Weigh In On Surrozen

A number of large investors have recently made changes to their positions in the company. Spruce Street Capital LP purchased a new stake in Surrozen in the 4th quarter worth about $9,764,000. 5AM Venture Management LLC lifted its stake in Surrozen by 25.0% in the fourth 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 last quarter. Perceptive Advisors LLC bought a new stake in Surrozen in the first quarter worth about $6,682,000. Eversept Partners LP grew its stake in shares of Surrozen by 23.8% during the fourth 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 during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Surrozen by 117.1% in the first 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. 66.57% of the stock is owned by hedge funds and other institutional investors.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively activate the Wnt signaling pathway, which plays an important role in tissue repair, regeneration and maintenance. The company uses proprietary antibody-based technologies designed to stimulate Wnt signaling in specific tissues while limiting potential effects elsewhere in the body.

Surrozen’s pipeline has included SZN-1326, an investigational Wnt pathway activator being developed for inflammatory bowel diseases such as ulcerative colitis, and SZN-413, an investigational therapy targeting the FZD4 Wnt signaling pathway for retinal vascular diseases.