Surrozen, Inc. (NASDAQ:SRZN) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been given an average rating of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a 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, July 28th. HC Wainwright restated a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Finally, TD Cowen assumed coverage on shares of Surrozen in a research note on Tuesday, April 21st. They set a “buy” rating for the company.

Insider Buying and Selling

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total value of $6,906,250.00. Following the completion of the transaction, the insider directly owned 574,047 shares of the company’s stock, valued at $12,198,498.75. This trade represents a 36.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Surrozen

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after buying an additional 5,702 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Surrozen during the 2nd quarter valued at about $536,000. Vanguard Group Inc. increased its position in shares of Surrozen by 21.7% in the third quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after purchasing an additional 47,468 shares during the last quarter. Acuta Capital Partners LLC raised its position in shares of Surrozen by 5.0% during the 3rd quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock valued at $2,299,000 after buying an additional 8,415 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Surrozen in the 3rd quarter worth about $889,000. Institutional investors own 66.57% of the company’s stock.

Surrozen Trading Down 0.2%

Shares of Surrozen stock opened at $21.95 on Thursday. The business has a 50-day moving average price of $22.97 and a two-hundred day moving average price of $25.36. Surrozen has a 1-year low of $9.03 and a 1-year high of $35.00. The company has a market cap of $254.84 million, a P/E ratio of -0.58 and a beta of 0.52.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $4.00 million. Equities research analysts forecast that Surrozen 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.