Surrozen (NASDAQ:SRZN) Upgraded to Strong-Buy at Cantor Fitzgerald

Surrozen (NASDAQ:SRZN) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Thursday, MarketBeat.com reports. The brokerage currently has a $40.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 48.53% from the company’s previous close.

Several other brokerages have also recently commented on SRZN. Lifesci Capital upgraded shares of Surrozen to a “strong-buy” rating in a research note on Thursday, November 13th. Wall Street Zen raised shares of Surrozen to a “sell” rating in a report on Friday, November 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Surrozen presently has a consensus rating of “Buy” and an average price target of $36.00.

Surrozen Stock Up 7.3%

Shares of NASDAQ:SRZN opened at $26.93 on Thursday. Surrozen has a 52-week low of $5.90 and a 52-week high of $27.96. The stock has a market cap of $230.79 million, a price-to-earnings ratio of -1.21 and a beta of 0.58. The business has a 50-day moving average price of $21.80 and a 200-day moving average price of $16.18.

Insider Buying and Selling

In other news, Director Tim Kutzkey purchased 18,052 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were bought at an average price of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the transaction, the director owned 1,016,658 shares in the company, valued at $19,926,496.80. This represents a 1.81% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Tcg Crossover Gp Ii, Llc purchased 1,093 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of $23.86 per share, with a total value of $26,078.98. Following the purchase, the insider owned 651,114 shares in the company, valued at $15,535,580.04. This represents a 0.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 231,713 shares of company stock valued at $4,635,485. Corporate insiders own 45.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SRZN. Braidwell LP purchased a new position in shares of Surrozen during the 2nd quarter valued at approximately $1,252,000. Stempoint Capital LP raised its position in Surrozen by 185.1% during the second quarter. Stempoint Capital LP now owns 686,539 shares of the company’s stock worth $6,138,000 after acquiring an additional 445,713 shares during the period. Stonepine Capital Management LLC lifted its holdings in Surrozen by 7.1% during the second quarter. Stonepine Capital Management LLC now owns 306,029 shares of the company’s stock valued at $2,736,000 after purchasing an additional 20,247 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Surrozen by 22.6% in the second 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 during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Surrozen during the fourth quarter worth about $247,000. 66.57% of the stock is owned by institutional investors and hedge funds.

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.