Surrozen, Inc. (NASDAQ:SRZN) Short Interest Down 37.3% in June

Surrozen, Inc. (NASDAQ:SRZN) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 346,034 shares, a drop of 37.3% from the May 31st total of 551,841 shares. Based on an average trading volume of 97,035 shares, the days-to-cover ratio is currently 3.6 days. Approximately 4.4% of the shares of the stock are short sold.

Surrozen Stock Down 1.4%

Surrozen stock traded down $0.35 during trading hours on Thursday, reaching $25.16. 66,004 shares of the company’s stock were exchanged, compared to its average volume of 117,924. The firm’s 50 day simple moving average is $26.68 and its 200 day simple moving average is $25.23. Surrozen has a twelve month low of $8.00 and a twelve month high of $35.00. The firm has a market capitalization of $292.17 million, a PE ratio of -0.67 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Analysts anticipate that Surrozen will post -7.2 EPS for the current year.

Insider Activity at Surrozen

In related news, COO Charles O. Williams sold 2,036 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $67,859.88. Following the sale, the chief operating officer owned 16,571 shares in the company, valued at $552,311.43. The trade was a 10.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Craig C. Parker sold 4,524 shares of the stock in a transaction dated 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 of the company’s stock, valued at $551,711.49. This represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,144 shares of company stock valued at $271,440 in the last 90 days. 31.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surrozen

A number of institutional investors and hedge funds have recently modified their holdings of SRZN. Millennium Management LLC grew 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 worth $16,301,000 after buying an additional 611,497 shares during the period. Braidwell LP lifted its position in shares of Surrozen by 235.7% during the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after acquiring an additional 330,000 shares during the period. Spruce Street Capital LP bought a new position in Surrozen during the fourth quarter worth $9,764,000. 5AM Venture Management LLC boosted its stake 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 in the last quarter. Finally, Kalehua Capital Management LLC bought a new position in Surrozen during the fourth quarter worth $8,705,000. 66.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SRZN. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Surrozen in a research note on Tuesday, March 24th. Zacks Research cut Surrozen from a “hold” rating to a “strong sell” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research report on Tuesday, April 21st. Finally, HC Wainwright restated a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Surrozen presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

About Surrozen

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.