Surrozen (NASDAQ:SRZN) Receives Buy Rating from HC Wainwright

Surrozen (NASDAQ:SRZN)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $44.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 71.74% from the stock’s current price.

A number of other brokerages have also recently commented on SRZN. TD Cowen started coverage on Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Finally, Zacks Research raised shares of Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Surrozen Stock Performance

Shares of NASDAQ:SRZN opened at $25.62 on Monday. The firm has a market cap of $297.45 million, a PE ratio of -0.63 and a beta of 0.52. The firm’s 50 day simple moving average is $22.86 and its 200-day simple moving average is $25.41. Surrozen has a one year low of $9.11 and a one year high of $35.00.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.88. The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $0.47 million. Equities research analysts predict that Surrozen will post -7.2 EPS for the current fiscal year.

Insider Transactions at Surrozen

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the completion of the transaction, the insider owned 574,047 shares of the company’s stock, valued at $12,198,498.75. This trade represents a 36.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 31.74% of the company’s stock.

Hedge Funds Weigh In On Surrozen

Institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Surrozen by 50.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in Surrozen during the 4th quarter worth about $99,000. Marshall Wace LLP acquired a new stake in Surrozen in the 4th quarter valued at about $247,000. ADAR1 Capital Management LLC purchased a new position in shares of Surrozen in the 1st quarter valued at about $350,000. Finally, Ieq Capital LLC purchased a new position in shares of Surrozen in the 4th quarter valued at about $304,000. 66.57% of the stock is 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.