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

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.00.

SRZN has been the subject of a number of recent research reports. Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. William Blair initiated coverage on Surrozen in a research note on Thursday. They issued an “outperform” rating and a $51.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $44.00 price objective on shares of Surrozen in a research report on Monday, August 10th.

Insiders Place Their Bets

In related news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen stock in a transaction that occurred 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 owned 574,047 shares in the company, valued at $12,198,498.75. The trade was a 36.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Surrozen

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Surrozen by 22.6% in the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after purchasing an additional 5,702 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Surrozen during the second quarter worth $536,000. Vanguard Group Inc. grew its stake in shares of Surrozen by 21.7% during 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 in the last quarter. Acuta Capital Partners LLC grew its stake in shares of Surrozen by 5.0% during the third quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock worth $2,299,000 after purchasing an additional 8,415 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Surrozen in the third quarter valued at $889,000. 66.57% of the stock is owned by hedge funds and other institutional investors.

Surrozen Price Performance

Surrozen stock opened at $23.99 on Monday. Surrozen has a 52-week low of $10.73 and a 52-week high of $35.00. The firm has a market cap of $278.52 million, a PE ratio of -0.59 and a beta of 0.52. The company’s 50 day moving average is $23.11 and its two-hundred day moving average is $25.65.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($1.29) by $0.88. The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $0.47 million. On average, equities research analysts anticipate that Surrozen will post -7.62 earnings per share 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.