Surrozen, Inc. $SRZN Shares Sold by Stempoint Capital LP

Stempoint Capital LP trimmed its position in Surrozen, Inc. (NASDAQ:SRZN) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 525,639 shares of the company’s stock after selling 94,127 shares during the quarter. Surrozen makes up approximately 2.9% of Stempoint Capital LP’s holdings, making the stock its 7th largest position. Stempoint Capital LP’s holdings in Surrozen were worth $15,312,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in 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 worth $16,301,000 after purchasing an additional 611,497 shares during the period. Braidwell LP raised its holdings in shares of Surrozen by 235.7% during the fourth 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 shares of Surrozen during the fourth quarter worth $9,764,000. 5AM Venture Management LLC lifted its position 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 worth $8,758,000 after buying an additional 77,500 shares during the last quarter. Finally, Kalehua Capital Management LLC bought a new position in shares of Surrozen in the 4th quarter worth about $8,705,000. 66.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SRZN has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. Zacks Research raised shares of Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $44.00 target price (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. Finally, TD Cowen initiated coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Surrozen has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In related news, CEO Craig C. Parker sold 4,524 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the completion of the transaction, the chief executive officer directly owned 16,553 shares of the company’s stock, valued at $551,711.49. This represents a 21.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles O. Williams sold 2,036 shares of the firm’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 $67,859.88. Following the completion of the sale, the chief operating officer owned 16,571 shares in the company, valued at approximately $552,311.43. This represents a 10.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 333,144 shares of company stock valued at $7,177,690. Corporate insiders own 31.74% of the company’s stock.

Surrozen Stock Down 1.0%

SRZN stock opened at $19.20 on Thursday. The stock has a market cap of $222.91 million, a PE ratio of -0.51 and a beta of 0.51. The firm’s 50-day simple moving average is $23.44 and its 200 day simple moving average is $25.28. Surrozen, Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $35.00.

Surrozen (NASDAQ:SRZN) last posted its earnings results on Wednesday, May 6th. The company reported ($11.65) EPS for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The business had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $4.00 million. Equities analysts forecast that Surrozen, Inc. will post -7.2 EPS for the current fiscal year.

About Surrozen

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.