Surrozen, Inc. (NASDAQ:SRZN) Short Interest Down 16.0% in May

Surrozen, Inc. (NASDAQ:SRZN) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 42,400 shares, a decrease of 16.0% from the April 30th total of 50,500 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 3.6 days. Currently, 0.9% of the shares of the company are sold short.

Insider Transactions at Surrozen

In other news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of Surrozen stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $11.60 per share, with a total value of $11,999,991.20. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 45.18% of the company’s stock.

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently made changes to their positions in SRZN. Geode Capital Management LLC boosted its holdings in Surrozen by 26.1% during the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company’s stock worth $321,000 after buying an additional 4,630 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in shares of Surrozen by 4.7% during the 4th quarter. Nantahala Capital Management LLC now owns 196,023 shares of the company’s stock worth $2,813,000 after acquiring an additional 8,817 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Surrozen by 37.1% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 88,653 shares of the company’s stock worth $1,034,000 after acquiring an additional 24,000 shares during the last quarter. Stonepine Capital Management LLC grew its holdings in shares of Surrozen by 24.7% in the 4th quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company’s stock worth $1,969,000 after acquiring an additional 27,200 shares during the last quarter. Finally, Heights Capital Management Inc. acquired a new stake in shares of Surrozen during the first quarter worth $524,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Surrozen Price Performance

Shares of SRZN stock opened at $8.13 on Tuesday. The firm has a market capitalization of $69.62 million, a price-to-earnings ratio of -0.33 and a beta of 0.69. Surrozen has a 12-month low of $5.90 and a 12-month high of $18.17. The business has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $10.65.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings results on Friday, May 9th. The company reported ($3.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($2.04). The firm had revenue of $0.98 million for the quarter. On average, equities analysts anticipate that Surrozen will post -8.49 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $32.00 price objective on shares of Surrozen in a research report on Monday, May 12th.

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.