Surrozen (NASDAQ:SRZN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Surrozen (NASDAQ:SRZN) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a research note on Tuesday, March 24th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 target price (up from $32.00) on shares of Surrozen in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Surrozen Stock Performance

NASDAQ:SRZN opened at $27.45 on Friday. The firm’s fifty day moving average is $24.82 and its two-hundred day moving average is $19.21. The firm has a market cap of $235.27 million, a price-to-earnings ratio of -0.82 and a beta of 0.53. Surrozen has a one year low of $5.90 and a one year high of $29.59.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($7.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($6.30). Surrozen had a negative net margin of 7,476.67% and a negative return on equity of 4,055.04%. The company had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.66 million. As a group, equities research analysts predict that Surrozen will post -8.49 earnings per share for the current fiscal year.

Insider Activity at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III purchased 18,052 shares of Surrozen stock in a transaction that occurred on Tuesday, January 20th. The stock was bought at an average price of $19.60 per share, with a total value of $353,819.20. Following the acquisition, the insider owned 1,016,658 shares of the company’s stock, valued at $19,926,496.80. This trade represents a 1.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Tcg Crossover Gp Ii, Llc purchased 106,658 shares of the stock in a transaction on Tuesday, March 24th. The shares were acquired at an average price of $24.69 per share, for a total transaction of $2,633,386.02. Following the transaction, the insider directly owned 736,554 shares of the company’s stock, valued at $18,185,518.26. This represents a 16.93% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 330,291 shares of company stock worth $7,478,785 in the last 90 days. Corporate insiders own 45.18% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SRZN. Millennium Management LLC lifted its position in shares of Surrozen by 557.1% during the 4th quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after buying an additional 611,497 shares in the last quarter. Stempoint Capital LP increased its holdings in Surrozen by 185.1% in the 2nd quarter. Stempoint Capital LP now owns 686,539 shares of the company’s stock worth $6,138,000 after acquiring an additional 445,713 shares in the last quarter. Braidwell LP increased its holdings in Surrozen by 235.7% in the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock worth $10,622,000 after acquiring an additional 330,000 shares in the last quarter. Spruce Street Capital LP acquired a new position in Surrozen during the fourth quarter worth $9,764,000. Finally, 5AM Venture Management LLC raised 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 acquiring an additional 77,500 shares during the period. 66.57% of the stock is owned by institutional investors and hedge funds.

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.