Surrozen (NASDAQ:SRZN) Upgraded by Zacks Research to Hold Rating

Surrozen (NASDAQ:SRZN) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

SRZN has been the topic of several other research reports. HC Wainwright reissued a “buy” rating and set a $44.00 target price (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. Finally, TD Cowen began coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Surrozen presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Surrozen Price Performance

Shares of SRZN stock opened at $19.20 on Tuesday. The firm has a 50-day moving average of $23.44 and a 200-day moving average of $25.28. Surrozen has a one year low of $8.70 and a one year high of $35.00. The company has a market cap of $222.91 million, a P/E ratio of -0.51 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. As a group, research analysts expect that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insider Activity at Surrozen

In related news, COO Charles O. Williams sold 2,036 shares of Surrozen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $67,859.88. Following the sale, the chief operating officer owned 16,571 shares of the company’s stock, valued at approximately $552,311.43. The trade was a 10.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction 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 transaction, the insider directly owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. This trade represents a 36.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 333,144 shares of company stock valued at $7,177,690 over the last quarter. 31.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SRZN. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 5,702 shares during the period. Armistice Capital LLC bought a new stake in Surrozen in the 2nd quarter valued at about $536,000. Vanguard Group Inc. raised its stake in Surrozen by 21.7% in the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock valued at $3,433,000 after acquiring an additional 47,468 shares during the period. Acuta Capital Partners LLC lifted its holdings in Surrozen by 5.0% during the third quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock valued at $2,299,000 after purchasing an additional 8,415 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Surrozen during the third quarter valued at about $889,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

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.