Zacks Research Downgrades Surrozen (NASDAQ:SRZN) to Strong Sell

Surrozen (NASDAQ:SRZNGet Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on SRZN. HC Wainwright reaffirmed 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. TD Cowen initiated coverage on shares of Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating for the company. Finally, Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Read Our Latest Stock Report on SRZN

Surrozen Price Performance

Shares of Surrozen stock opened at $25.95 on Monday. The firm has a fifty day moving average price of $26.81 and a 200 day moving average price of $25.22. The stock has a market cap of $301.28 million, a PE ratio of -0.69 and a beta of 0.51. Surrozen has a 1 year low of $8.00 and a 1 year high of $35.00.

Surrozen (NASDAQ:SRZNGet Free Report) last issued its quarterly earnings data 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). The company had revenue of $5.00 million during the quarter, compared to analyst estimates of $4.00 million. Surrozen had a negative net margin of 4,810.50% and a negative return on equity of 4,055.04%. As a group, equities analysts expect that Surrozen will post -7.2 EPS for the current year.

Insider Buying and Selling

In related news, COO Charles O. Williams sold 2,036 shares of the 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 completion of the transaction, the chief operating officer directly owned 16,571 shares of the company’s stock, valued at approximately $552,311.43. This represents a 10.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig C. Parker sold 4,524 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $150,784.92. Following the completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 8,144 shares of company stock worth $271,440. 31.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surrozen

Institutional investors and hedge funds have recently bought and sold shares of the business. Empery Asset Management LP purchased a new stake in shares of Surrozen in the fourth quarter valued at approximately $2,350,000. 5AM Venture Management LLC lifted its position in Surrozen by 25.0% during the fourth quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after buying an additional 77,500 shares in the last quarter. Spruce Street Capital LP acquired a new position in Surrozen during the fourth quarter worth $9,764,000. 683 Capital Management LLC purchased a new stake in Surrozen in the 4th quarter valued at $949,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. 66.57% of the stock is currently owned by institutional investors and hedge funds.

About Surrozen

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Surrozen (NASDAQ:SRZN)

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