Surrozen (NASDAQ:SRZN – Get Free Report) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.
SRZN has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $44.00 target price (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Finally, TD Cowen assumed coverage on shares of Surrozen in a research report on Tuesday, April 21st. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.
Get Our Latest Stock Analysis on SRZN
Surrozen Price Performance
Surrozen (NASDAQ:SRZN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $4.00 million. Sell-side analysts expect that Surrozen will post -7.2 earnings per share for the current fiscal year.
Insider Activity
In other Surrozen news, COO Charles O. Williams sold 2,036 shares of the company’s stock in a transaction dated 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 in the company, valued at $552,311.43. This represents a 10.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the firm’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total value of $6,906,250.00. Following the completion of the sale, the insider directly owned 574,047 shares in the company, valued at approximately $12,198,498.75. The trade was a 36.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 333,144 shares of company stock worth $7,177,690. Company insiders own 31.74% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of SRZN. China Universal Asset Management Co. Ltd. increased its position 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 worth $34,000 after purchasing an additional 500 shares during the last quarter. Citadel Advisors LLC lifted its position in Surrozen by 32.8% during the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after purchasing an additional 3,424 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Surrozen in the 4th quarter worth approximately $99,000. Schonfeld Strategic Advisors LLC grew its stake in Surrozen by 8.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company’s stock worth $1,687,000 after buying an additional 5,621 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 worth $277,000 after buying an additional 5,702 shares during the last quarter. Hedge funds and other institutional investors own 66.57% of the company’s stock.
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.
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