Surrozen (NASDAQ:SRZN) Raised to Hold at Zacks Research

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

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

Surrozen Stock Down 1.0%

Shares of Surrozen stock opened at $19.20 on Tuesday. Surrozen has a 52-week low of $8.70 and a 52-week high of $35.00. The company’s 50-day simple moving average is $23.44 and its 200-day simple moving average is $25.28. The firm has a market cap of $222.91 million, a price-to-earnings ratio of -0.51 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $4.00 million. Equities research analysts anticipate that Surrozen will post -7.2 EPS for the current year.

Insider Activity at Surrozen

In other Surrozen news, VP Yang Li sold 1,584 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total value 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 approximately $573,809.28. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Craig C. Parker sold 4,524 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $150,784.92. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 333,144 shares of company stock valued at $7,177,690. 31.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surrozen

Several hedge funds and other institutional investors have recently bought and sold shares of SRZN. China Universal Asset Management Co. Ltd. boosted 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 in the last quarter. Citadel Advisors LLC grew its holdings in Surrozen by 32.8% in the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after purchasing an additional 3,424 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Surrozen in the fourth quarter valued at $99,000. Schonfeld Strategic Advisors LLC increased its position in shares of Surrozen by 8.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company’s stock valued at $1,687,000 after buying an additional 5,621 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 buying an additional 5,702 shares during the last quarter. 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.