Surrozen (NASDAQ:SRZN) Issues Earnings Results

Surrozen (NASDAQ:SRZN) announced its quarterly earnings results on Friday. The company reported ($3.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($2.04), Zacks reports. The business had revenue of $0.98 million for the quarter.

Surrozen Trading Down 3.9 %

NASDAQ:SRZN opened at $8.35 on Friday. The company has a 50-day moving average of $10.54 and a 200-day moving average of $10.95. The firm has a market cap of $27.40 million, a price-to-earnings ratio of -0.33 and a beta of 0.69. Surrozen has a twelve month low of $6.00 and a twelve month high of $18.17.

Insiders Place Their Bets

In related news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $11.60 per share, for a total transaction of $11,999,991.20. Following the purchase, the insider now owns 795,411 shares in the company, valued at $9,226,767.60. The trade was a -432.71 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 45.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $32.00 price target on shares of Surrozen in a research note on Wednesday, April 2nd.

About Surrozen

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.