Surrozen, Inc. (SRZN) – What Are Brokerages Thinking About This Stock?

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $48.33.

Several equities analysts recently issued reports on SRZN shares. HC Wainwright restated a “buy” rating and set a $54.00 price target (up from $44.00) on shares of Surrozen in a research note on Friday, September 25th. William Blair initiated coverage on Surrozen in a report on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research report on Thursday. Finally, Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th.

Surrozen Trading Down 6.5%

NASDAQ:SRZN opened at $23.44 on Tuesday. Surrozen has a 1-year low of $11.39 and a 1-year high of $37.83. The firm has a market capitalization of $272.14 million, a price-to-earnings ratio of -0.58 and a beta of 0.47. The business’s fifty day moving average price is $23.69 and its 200 day moving average price is $25.03.

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

Insider Buying and Selling at Surrozen

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the company’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 sale, the insider directly owned 574,047 shares in the company, valued at $12,198,498.75. This represents a 36.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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. Spruce Street Capital LP bought a new stake in Surrozen during the fourth quarter worth about $9,764,000. 5AM Venture Management LLC raised its stake in shares of Surrozen by 25.0% in the fourth quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock valued at $8,758,000 after acquiring an additional 77,500 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Surrozen in the first quarter valued at approximately $6,682,000. Eversept Partners LP raised its stake in shares of Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock valued at $2,153,000 after acquiring an additional 18,289 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after acquiring an additional 26,500 shares during the last quarter. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Company Profile

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.