Surrozen (NASDAQ:SRZN – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.88, FiscalAI reports. The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $0.47 million.
Surrozen Trading Up 18.4%
Shares of NASDAQ SRZN traded up $3.98 during midday trading on Friday, reaching $25.62. The company’s stock had a trading volume of 371,183 shares, compared to its average volume of 267,200. Surrozen has a fifty-two week low of $9.11 and a fifty-two week high of $35.00. The stock has a market capitalization of $297.45 million, a price-to-earnings ratio of -0.68 and a beta of 0.52. The stock has a 50 day simple moving average of $22.86 and a 200-day simple moving average of $25.37.
Insider Buying and Selling
In related news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the completion of the transaction, the insider owned 574,047 shares in the company, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.74% of the company’s stock.
Institutional Investors Weigh In On Surrozen
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. TD Cowen started coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating on the stock. Finally, HC Wainwright restated 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. One equities research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.00.
Check Out Our Latest Stock Analysis on SRZN
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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