Surrozen, Inc. (NASDAQ:SRZN) Short Interest Update

Surrozen, Inc. (NASDAQ:SRZN) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 709,757 shares, a growth of 105.1% from the June 15th total of 346,034 shares. Approximately 9.0% of the shares of the company are short sold. Based on an average trading volume of 229,914 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SRZN. Zacks Research lowered shares of Surrozen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. TD Cowen started coverage on shares of Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating for the company. Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a report on Tuesday, March 24th. Wall Street Zen raised Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Surrozen Stock Down 0.1%

Shares of Surrozen stock traded down $0.02 during trading on Wednesday, reaching $21.86. The company’s stock had a trading volume of 105,958 shares, compared to its average volume of 121,256. The business’s 50-day moving average price is $25.27 and its 200-day moving average price is $25.30. Surrozen has a 52 week low of $8.20 and a 52 week high of $35.00. The firm has a market cap of $253.79 million, a PE ratio of -0.58 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data 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 business had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. Equities analysts predict that Surrozen will post -7.2 earnings per share for the current year.

Insider Activity at Surrozen

In other Surrozen news, VP Yang Li sold 1,584 shares of Surrozen stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $52,794.72. Following the completion of the transaction, the vice president directly owned 17,216 shares of the company’s stock, valued at $573,809.28. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig C. Parker sold 4,524 shares of Surrozen stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $150,784.92. Following the transaction, the chief executive officer directly owned 16,553 shares of the company’s stock, valued at approximately $551,711.49. This trade represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 8,144 shares of company stock worth $271,440. Company insiders own 31.74% of the company’s stock.

Institutional Investors Weigh In On Surrozen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Empery Asset Management LP acquired a new stake in shares of Surrozen during the 4th quarter worth $2,350,000. 5AM Venture Management LLC increased its position in shares of Surrozen by 25.0% in the fourth quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after purchasing an additional 77,500 shares during the period. Spruce Street Capital LP acquired a new position in Surrozen in the fourth quarter valued at about $9,764,000. 683 Capital Management LLC acquired a new position in Surrozen in the fourth quarter valued at about $949,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in 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 purchasing an additional 500 shares during the period. 66.57% of the stock is currently owned by institutional investors and hedge funds.

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.