Analysts Set Surrozen, Inc. (NASDAQ:SRZN) PT at $42.00

Shares of Surrozen, Inc. (NASDAQ:SRZN) have received a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of research firms have issued reports on SRZN. HC Wainwright reaffirmed a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. TD Cowen started coverage on shares of Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price target on shares of Surrozen in a research report on Tuesday, March 24th. Finally, Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Insider Activity at Surrozen

In related news, CEO Craig C. Parker sold 4,524 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $150,784.92. Following the transaction, the chief executive officer directly owned 16,553 shares in the company, valued at approximately $551,711.49. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Charles O. Williams sold 2,036 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $67,859.88. Following the completion of the transaction, the chief operating officer owned 16,571 shares in the company, valued at approximately $552,311.43. This trade represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,144 shares of company stock valued at $271,440 in the last ninety days. 31.74% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its position in Surrozen by 557.1% during the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after acquiring an additional 611,497 shares during the last quarter. Spruce Street Capital LP bought a new position in Surrozen during the fourth quarter valued at approximately $9,764,000. Kalehua Capital Management LLC bought a new position in Surrozen during the fourth quarter valued at approximately $8,705,000. Braidwell LP grew its position in Surrozen by 235.7% during the fourth quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after acquiring an additional 330,000 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new position in Surrozen during the first quarter valued at approximately $6,682,000. 66.57% of the stock is currently owned by institutional investors.

Surrozen Trading Down 1.7%

NASDAQ SRZN opened at $22.75 on Wednesday. The company has a fifty day simple moving average of $27.72 and a 200 day simple moving average of $24.80. Surrozen has a 12-month low of $8.00 and a 12-month high of $35.00. The company has a market cap of $264.13 million, a P/E ratio of -0.61 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($10.56). Surrozen had a negative net margin of 4,810.50% and a negative return on equity of 4,055.04%. The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $4.00 million. Sell-side analysts predict that Surrozen will post -7.2 EPS for the current year.

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.