Brokerages Set Surrozen, Inc. (NASDAQ:SRZN) Target Price at $45.00

Surrozen, Inc. (NASDAQ:SRZN) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $45.00.

Several brokerages recently weighed in on SRZN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. William Blair started coverage on shares of Surrozen in a report on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective on shares of Surrozen in a research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th.

Insider Buying and Selling at Surrozen

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 31.74% of the company’s stock.

Institutional Trading of Surrozen

Hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in Surrozen by 50.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. California State Teachers Retirement System acquired a new stake in shares of Surrozen during the 2nd quarter worth approximately $68,000. Persistent Asset Partners Ltd purchased a new position in shares of Surrozen during the 4th quarter valued at approximately $99,000. Citadel Advisors LLC increased its holdings in shares of Surrozen by 32.8% during the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after purchasing an additional 3,424 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Surrozen in the 4th quarter valued at $247,000. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Stock Performance

Surrozen stock opened at $22.42 on Monday. The business’s 50-day simple moving average is $23.13 and its two-hundred day simple moving average is $25.66. The company has a market cap of $260.30 million, a PE ratio of -0.55 and a beta of 0.52. Surrozen has a fifty-two week low of $11.25 and a fifty-two week high of $35.00.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.88. The firm had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.47 million. As a group, analysts predict that Surrozen will post -7.62 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.