Surrozen, Inc. $SRZN Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in shares of Surrozen, Inc. (NASDAQ:SRZN) by 117.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,126 shares of the company’s stock after acquiring an additional 26,500 shares during the period. Renaissance Technologies LLC owned approximately 0.42% of Surrozen worth $1,431,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empery Asset Management LP bought a new stake in Surrozen during the 4th quarter valued at approximately $2,350,000. 5AM Venture Management LLC raised its holdings in Surrozen by 25.0% in the fourth quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after purchasing an additional 77,500 shares in the last quarter. Spruce Street Capital LP purchased a new position in Surrozen during the fourth quarter valued at $9,764,000. 683 Capital Management LLC bought a new stake in Surrozen during the fourth quarter worth about $949,000. Finally, Jane Street Group LLC bought a new stake in Surrozen during the fourth quarter worth about $624,000. 66.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. Following the transaction, the insider directly owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 31.74% of the stock is currently owned by insiders.

Surrozen Stock Performance

Shares of SRZN stock opened at $24.19 on Thursday. The company has a market capitalization of $280.85 million, a price-to-earnings ratio of -0.60 and a beta of 0.52. Surrozen, Inc. has a one year low of $10.06 and a one year high of $35.00. The company’s 50-day moving average is $22.90 and its 200 day moving average is $25.53.

Surrozen (NASDAQ:SRZN) last issued its earnings results 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, research analysts predict that Surrozen, Inc. will post -7.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on SRZN. HC Wainwright reaffirmed a “buy” rating and set a $44.00 target price on shares of Surrozen in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, TD Cowen began coverage on Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.