Surrozen (NASDAQ:SRZN) Issues Quarterly Earnings Results, Misses Expectations By $6.56 EPS

Surrozen (NASDAQ:SRZN) posted its earnings results on Monday. The company reported ($9.10) EPS for the quarter, missing analysts’ consensus estimates of ($2.54) by ($6.56), Zacks reports.

Surrozen Price Performance

SRZN stock traded up $0.65 during trading on Monday, hitting $11.66. 13,564 shares of the company’s stock traded hands, compared to its average volume of 22,320. The business has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $10.98. Surrozen has a 52 week low of $6.00 and a 52 week high of $18.17.

Insider Buying and Selling

In other news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $11.60 per share, with a total value of $11,999,991.20. Following the purchase, the insider now owns 795,411 shares in the company, valued at approximately $9,226,767.60. This trade represents a -432.71 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 43.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HC Wainwright initiated coverage on Surrozen in a report on Thursday, January 30th. They issued a “buy” rating and a $32.00 target price on the stock. Guggenheim raised Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd.

About Surrozen

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.