Surrozen (NASDAQ:SRZN) Stock Price Down 3.6% – Should You Sell?

Surrozen, Inc. (NASDAQ:SRZN) traded down 3.6% on Monday . The company traded as low as $11.21 and last traded at $12.00. 146,213 shares were traded during mid-day trading, an increase of 553% from the average session volume of 22,375 shares. The stock had previously closed at $12.45.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SRZN. HC Wainwright began coverage on shares of Surrozen in a research report on Thursday, January 30th. They issued a “buy” rating and a $32.00 price objective on the stock. Guggenheim raised shares of Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd.

Surrozen Stock Performance

The firm has a 50 day moving average of $11.43 and a 200-day moving average of $10.92.

Institutional Investors Weigh In On Surrozen

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Surrozen by 26.1% in the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company’s stock worth $321,000 after buying an additional 4,630 shares during the last quarter. Trustees of Columbia University in the City of New York bought a new stake in Surrozen during the fourth quarter valued at about $688,000. Adage Capital Partners GP L.L.C. bought a new position in Surrozen in the fourth quarter worth about $928,000. Stonepine Capital Management LLC raised its stake in shares of Surrozen by 66.5% during the 3rd quarter. Stonepine Capital Management LLC now owns 110,000 shares of the company’s stock worth $1,318,000 after acquiring an additional 43,916 shares in the last quarter. Finally, Regents of The University of California acquired a new stake in Surrozen in the fourth quarter valued at approximately $1,912,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

About Surrozen

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.