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

Shares of Surrozen, Inc. (NASDAQ:SRZN) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.00.

Several analysts have commented on the company. TD Cowen initiated coverage on Surrozen in a report on Tuesday. They issued a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $36.00 price target (up from $32.00) on shares of Surrozen in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a report on Tuesday, March 24th. Finally, Wall Street Zen upgraded shares of Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Insiders Place Their Bets

In other news, major shareholder Tcg Crossover Gp Ii, Llc acquired 106,658 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average cost of $24.69 per share, for a total transaction of $2,633,386.02. Following the acquisition, the insider owned 736,554 shares in the company, valued at approximately $18,185,518.26. This represents a 16.93% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 199,091 shares of company stock valued at $4,880,263. Company insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRZN. China Universal Asset Management Co. Ltd. grew its holdings in shares of Surrozen by 50.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 500 shares in the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Surrozen in the fourth quarter worth about $99,000. Citadel Advisors LLC lifted its stake in shares of Surrozen by 32.8% in the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after buying an additional 3,424 shares in the last quarter. Marshall Wace LLP acquired a new position in Surrozen during the fourth quarter worth about $247,000. Finally, Geode Capital Management LLC grew its stake in Surrozen by 22.6% during the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after acquiring an additional 5,702 shares in the last quarter. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Surrozen Price Performance

NASDAQ:SRZN opened at $32.63 on Tuesday. The company has a 50 day moving average price of $27.13 and a 200-day moving average price of $21.00. Surrozen has a 1-year low of $5.90 and a 1-year high of $33.22. The firm has a market cap of $374.92 million, a price-to-earnings ratio of -0.96 and a beta of 0.52.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Monday, March 23rd. The company reported ($7.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($6.30). Surrozen had a negative net margin of 7,476.67% and a negative return on equity of 4,055.04%. The firm had revenue of $0.53 million during the quarter, compared to analysts’ expectations of $0.66 million. On average, sell-side analysts anticipate that Surrozen will post -4.04 earnings per share for the current fiscal year.

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.