Surrozen (NASDAQ:SRZN) Upgraded to “Strong-Buy” at William Blair

Surrozen (NASDAQ:SRZN) was upgraded by investment analysts at William Blair to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a “buy” rating and set a $44.00 price target on shares of Surrozen in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. Finally, Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Surrozen has an average rating of “Moderate Buy” and a consensus price target of $45.00.

Surrozen Price Performance

Shares of SRZN stock opened at $23.50 on Thursday. The firm has a market cap of $272.83 million, a P/E ratio of -0.58 and a beta of 0.52. Surrozen has a 1-year low of $10.73 and a 1-year high of $35.00. The firm’s 50-day simple moving average is $23.10 and its 200-day simple moving average is $25.64.

Surrozen (NASDAQ:SRZN) last released its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.88. The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.47 million. Analysts expect that Surrozen will post -7.62 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the business’s 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 sale, the insider owned 574,047 shares in the company, valued at approximately $12,198,498.75. The trade was a 36.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SRZN. China Universal Asset Management Co. Ltd. increased its position in shares of Surrozen by 50.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of Surrozen by 32.8% in the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after acquiring an additional 3,424 shares during the period. Persistent Asset Partners Ltd acquired a new position in shares of Surrozen during the 4th quarter valued at $99,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Surrozen by 8.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company’s stock valued at $1,687,000 after acquiring an additional 5,621 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Surrozen by 22.6% during the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after purchasing an additional 5,702 shares during the period. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Surrozen Company Profile

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.