Surrozen (NASDAQ:SRZN) Trading Down 3.9% – Should You Sell?

Surrozen, Inc. (NASDAQ:SRZN)’s share price was down 3.9% during mid-day trading on Monday . The stock traded as low as $20.50 and last traded at $20.69. Approximately 145,771 shares were traded during trading, an increase of 69% from the average daily volume of 86,449 shares. The stock had previously closed at $21.52.

Analysts Set New Price Targets

SRZN has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. TD Cowen assumed coverage on Surrozen in a research note on Tuesday, April 21st. They set a “buy” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Surrozen Stock Performance

The company has a market cap of $252.75 million, a PE ratio of -0.58 and a beta of 0.51. The stock’s 50-day simple moving average is $28.13 and its 200 day simple moving average is $24.56.

Surrozen (NASDAQ:SRZN) last released its earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($10.56). Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%.The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. On average, sell-side analysts predict that Surrozen, Inc. will post -7.2 EPS for the current fiscal year.

Insider Transactions at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc acquired 106,658 shares of Surrozen stock in a transaction that occurred on Tuesday, March 24th. The stock was purchased at an average cost of $24.69 per share, with a total value of $2,633,386.02. Following the completion of the acquisition, the insider owned 736,554 shares in the company, valued at $18,185,518.26. This trade represents a 16.93% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Charles O. Williams sold 2,036 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 value of $67,859.88. Following the transaction, the chief operating officer directly owned 16,571 shares of the company’s stock, valued at $552,311.43. This trade represents a 10.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 170,878 shares of company stock worth $4,232,976 and have sold 8,144 shares worth $271,440. Company insiders own 31.74% of the company’s stock.

Institutional Investors Weigh In On Surrozen

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in 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 acquired a new stake in Surrozen in the 2nd quarter worth about $536,000. Vanguard Group Inc. grew its holdings in 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 buying an additional 47,468 shares during the period. Acuta Capital Partners LLC increased its stake in shares of Surrozen by 5.0% during the 3rd quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock valued at $2,299,000 after acquiring an additional 8,415 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Surrozen in the third quarter worth approximately $889,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

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.