Surrozen (NASDAQ:SRZN) Announces Earnings Results

Surrozen (NASDAQ:SRZN) posted its quarterly earnings results on Monday. The company reported ($23.88) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($22.59), FiscalAI reports. The business had revenue of $0.53 million for the quarter, compared to the consensus estimate of $0.66 million. Surrozen had a negative net margin of 7,476.67% and a negative return on equity of 1,240.42%.

Surrozen Price Performance

NASDAQ:SRZN opened at $25.00 on Wednesday. Surrozen has a 1 year low of $5.90 and a 1 year high of $29.59. The stock’s 50 day simple moving average is $24.21 and its two-hundred day simple moving average is $18.76. The company has a market cap of $214.28 million, a price-to-earnings ratio of -0.75 and a beta of 0.53.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SRZN. Wall Street Zen raised Surrozen to a “sell” rating in a research note on Friday, November 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $36.00 target price (up from $32.00) on shares of Surrozen in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity

In other Surrozen news, major shareholder Group Gp Lp Column III bought 18,052 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased at an average cost of $19.60 per share, with a total value of $353,819.20. Following the completion of the acquisition, the insider owned 1,016,658 shares in the company, valued at $19,926,496.80. This trade represents a 1.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Tcg Crossover Gp Ii, Llc purchased 35,433 shares of Surrozen stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $24.88 per share, for a total transaction of $881,573.04. Following the transaction, the insider directly owned 675,018 shares of the company’s stock, valued at $16,794,447.84. The trade was a 5.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 208,410 shares of company stock worth $4,466,346. 43.50% of the stock is currently owned by insiders.

Institutional Trading of Surrozen

A number of large investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Surrozen by 22.6% in the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after acquiring an additional 5,702 shares during the last quarter. Armistice Capital LLC bought a new stake in shares of Surrozen in the 2nd quarter valued at approximately $536,000. Vanguard Group Inc. lifted its stake in shares of Surrozen by 21.7% in the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock valued at $3,433,000 after purchasing an additional 47,468 shares during the last quarter. Acuta Capital Partners LLC boosted its holdings in shares of Surrozen by 5.0% in the 3rd quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock worth $2,299,000 after purchasing an additional 8,415 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Surrozen in the 3rd quarter worth approximately $889,000. 66.57% of the stock is currently owned by institutional investors.

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.