Surrozen Sees Unusually Large Options Volume (NASDAQ:SRZN)

Surrozen, Inc. (NASDAQ:SRZN) saw some unusual options trading on Monday. Traders acquired 4,277 call options on the stock. This is an increase of 233% compared to the typical volume of 1,283 call options.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. William Blair assumed coverage on Surrozen in a research report on Thursday, August 20th. They set an “outperform” rating and a $51.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price (up from $44.00) on shares of Surrozen in a research report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.33.

Insider Activity

In other 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 sale, the insider owned 574,047 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 31.74% of the company’s stock.

Hedge Funds Weigh In On Surrozen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC bought a new stake in Surrozen during the first quarter worth about $350,000. Bank of New York Mellon Corp acquired a new position in Surrozen in the second quarter worth $399,000. Eversept Partners LP grew its holdings in shares of Surrozen by 23.8% during the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock worth $2,153,000 after purchasing an additional 18,289 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Surrozen by 117.1% during the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock worth $1,431,000 after purchasing an additional 26,500 shares during the last quarter. Finally, 683 Capital Management LLC acquired a new stake in shares of Surrozen in the fourth quarter valued at $949,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Price Performance

Shares of SRZN traded down $5.00 during mid-day trading on Monday, reaching $24.69. The company had a trading volume of 759,382 shares, compared to its average volume of 244,543. The company has a market capitalization of $286.64 million, a P/E ratio of -0.61 and a beta of 0.47. Surrozen has a twelve month low of $11.39 and a twelve month high of $37.83. The company’s 50-day moving average is $23.54 and its 200-day moving average is $25.12.

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

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.