Surrozen (NASDAQ:SRZN) Issues Earnings Results

Surrozen (NASDAQ:SRZN) issued its earnings results on Friday. The company reported ($3.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($2.44), Zacks reports. Surrozen had a negative net margin of 274.42% and a negative return on equity of 545.43%. The company had revenue of $0.98 million for the quarter.

Surrozen Stock Down 2.4%

SRZN stock traded down $0.30 during trading hours on Friday, hitting $12.20. The company’s stock had a trading volume of 90,404 shares, compared to its average volume of 35,518. The stock has a 50 day moving average price of $12.80 and a two-hundred day moving average price of $10.51. Surrozen has a 12 month low of $5.90 and a 12 month high of $18.17. The company has a market capitalization of $104.55 million, a PE ratio of -0.85 and a beta of 0.64.

Institutional Investors Weigh In On Surrozen

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased 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 during the last quarter. Armistice Capital LLC acquired a new stake in shares of Surrozen in the second quarter worth about $536,000. Finally, Vanguard Group Inc. boosted its stake in shares of Surrozen by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after acquiring an additional 47,468 shares in the last quarter. 66.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.50.

About Surrozen

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.