Insider Selling: Surrozen (NASDAQ:SRZN) CEO Sells $150,784.92 in Stock

Surrozen, Inc. (NASDAQ:SRZN) CEO Craig Parker sold 4,524 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $150,784.92. Following the sale, the chief executive officer owned 16,553 shares in the company, valued at $551,711.49. The trade was a 21.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Surrozen Stock Down 9.9%

Shares of Surrozen stock opened at $30.75 on Friday. The company has a market capitalization of $353.32 million, a price-to-earnings ratio of -0.82 and a beta of 0.59. Surrozen, Inc. has a 12-month low of $5.90 and a 12-month high of $35.00. The firm’s 50-day moving average price is $28.50 and its two-hundred day moving average price is $22.38.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%. On average, sell-side analysts expect that Surrozen, Inc. will post -4.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

SRZN has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a research note on Thursday. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. TD Cowen initiated coverage on shares of Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 target price on shares of Surrozen in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SRZN. Millennium Management LLC lifted its holdings in shares of Surrozen by 557.1% in the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock worth $16,301,000 after acquiring an additional 611,497 shares during the last quarter. Spruce Street Capital LP bought a new position in Surrozen in the 4th quarter valued at approximately $9,764,000. Kalehua Capital Management LLC bought a new position in Surrozen in the 4th quarter valued at approximately $8,705,000. Braidwell LP raised its holdings in Surrozen by 235.7% in the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after buying an additional 330,000 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Surrozen by 169.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 190,489 shares of the company’s stock valued at $4,305,000 after buying an additional 119,757 shares during the last quarter. 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.