Tcg Crossover Gp Ii, Llc Sells 325,000 Shares of Surrozen (NASDAQ:SRZN) Stock

Surrozen, Inc. (NASDAQ:SRZN) major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. Following the completion of the sale, the insider directly owned 574,047 shares of the company’s stock, valued at $12,198,498.75. This trade represents a 36.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Surrozen Stock Performance

Shares of NASDAQ SRZN traded down $0.49 during trading on Tuesday, hitting $19.32. 53,716 shares of the company were exchanged, compared to its average volume of 123,306. The company has a fifty day moving average price of $23.72 and a 200-day moving average price of $25.28. The firm has a market capitalization of $224.31 million, a PE ratio of -0.51 and a beta of 0.51. Surrozen, Inc. has a 12-month low of $8.70 and a 12-month high of $35.00.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. Research analysts anticipate that Surrozen, Inc. will post -7.2 earnings per share for the current fiscal year.

Institutional Trading of Surrozen

A number of large investors have recently modified their holdings of SRZN. Millennium Management LLC boosted its holdings in Surrozen by 557.1% in the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after purchasing an additional 611,497 shares during the period. Braidwell LP increased its holdings in Surrozen by 235.7% during the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock worth $10,622,000 after purchasing an additional 330,000 shares during the period. Spruce Street Capital LP acquired a new stake in Surrozen in the 4th quarter valued at about $9,764,000. 5AM Venture Management LLC boosted its stake in shares of Surrozen by 25.0% in the 4th quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock valued at $8,758,000 after buying an additional 77,500 shares during the period. Finally, Kalehua Capital Management LLC purchased a new position in shares of Surrozen in the 4th quarter valued at about $8,705,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Zacks Research cut shares of Surrozen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. TD Cowen started coverage on shares of Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Surrozen presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.