Surrozen (NASDAQ:SRZN) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Surrozen (NASDAQ:SRZN) in a research report sent to investors on Monday,Benzinga reports. HC Wainwright currently has a $32.00 target price on the stock.

Surrozen Price Performance

Surrozen stock opened at $6.50 on Monday. The stock has a fifty day moving average price of $10.27 and a two-hundred day moving average price of $10.88. Surrozen has a 52-week low of $6.00 and a 52-week high of $18.17. The firm has a market capitalization of $21.33 million, a P/E ratio of -0.26 and a beta of 0.69.

Surrozen (NASDAQ:SRZN) last announced its earnings results on Friday, May 9th. The company reported ($3.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($2.04). The firm had revenue of $0.98 million during the quarter. On average, equities research analysts predict that Surrozen will post -8.49 EPS for the current fiscal year.

Insider Activity at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III acquired 1,034,482 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $11,999,991.20. Following the transaction, the insider now owns 795,411 shares of the company’s stock, valued at $9,226,767.60. This trade represents a -432.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 45.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Surrozen

Several institutional investors and hedge funds have recently modified their holdings of SRZN. Vivo Capital LLC acquired a new position in shares of Surrozen in the 1st quarter valued at approximately $3,032,000. Stempoint Capital LP raised its position in Surrozen by 91.7% in the 4th quarter. Stempoint Capital LP now owns 350,573 shares of the company’s stock valued at $5,031,000 after buying an additional 167,655 shares during the last quarter. Stonepine Capital Management LLC raised its position in Surrozen by 108.3% in the 1st quarter. Stonepine Capital Management LLC now owns 285,782 shares of the company’s stock valued at $3,332,000 after buying an additional 148,582 shares during the last quarter. Regents of The University of California acquired a new stake in Surrozen in the 4th quarter valued at approximately $1,912,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Surrozen in the 4th quarter valued at approximately $928,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Company Profile

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.