Surrozen, Inc. (NASDAQ:SRZN) Stock Has Consensus Price Target of $48.33 According to Analysts

Shares of Surrozen, Inc. (NASDAQ:SRZN) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $48.33.

A number of brokerages have commented on SRZN. HC Wainwright restated a “buy” rating and issued a $54.00 target price (up from $44.00) on shares of Surrozen in a research note on Friday, September 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research report on Thursday. William Blair initiated coverage on shares of Surrozen in a research note on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, Zacks Research upgraded shares of Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th.

Insider Transactions at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. Following the completion of the transaction, the insider owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. ADAR1 Capital Management LLC acquired a new position in Surrozen during the first quarter worth about $350,000. Bank of New York Mellon Corp acquired a new position in Surrozen in the second quarter worth approximately $399,000. 683 Capital Management LLC acquired a new position in Surrozen in the fourth quarter worth approximately $949,000. Renaissance Technologies LLC grew its position in Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock worth $1,431,000 after buying an additional 26,500 shares during the last quarter. Finally, Eversept Partners LP increased its holdings in shares of Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock valued at $2,153,000 after buying an additional 18,289 shares in the last quarter. Institutional investors and hedge funds own 66.57% of the company’s stock.

Surrozen Trading Up 1.7%

Shares of SRZN opened at $23.84 on Tuesday. The stock has a 50 day moving average of $23.66 and a 200-day moving average of $24.97. Surrozen has a 52 week low of $11.39 and a 52 week high of $37.83.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.88. The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $0.47 million. Analysts expect that Surrozen will post -1.01 earnings per share for the current fiscal year.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively activate the Wnt signaling pathway, which plays an important role in tissue repair, regeneration and maintenance. The company uses proprietary antibody-based technologies designed to stimulate Wnt signaling in specific tissues while limiting potential effects elsewhere in the body.

Surrozen’s pipeline has included SZN-1326, an investigational Wnt pathway activator being developed for inflammatory bowel diseases such as ulcerative colitis, and SZN-413, an investigational therapy targeting the FZD4 Wnt signaling pathway for retinal vascular diseases.