Surrozen (NASDAQ:SRZN) Major Shareholder Tcg Crossover Gp Ii, Llc Sells 325,000 Shares of Stock

Surrozen, Inc. (NASDAQ:SRZN) major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Surrozen Stock Performance

Shares of SRZN opened at $19.40 on Wednesday. The firm has a 50-day simple moving average of $23.60 and a 200-day simple moving average of $25.28. The company has a market capitalization of $225.23 million, a price-to-earnings ratio of -0.52 and a beta of 0.51. Surrozen, Inc. has a fifty-two week low of $8.70 and a fifty-two week high of $35.00.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The business had revenue of $5.00 million during the quarter, compared to the consensus estimate of $4.00 million. Equities research analysts forecast that Surrozen, Inc. will post -7.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SRZN. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Zacks Research downgraded Surrozen from a “hold” rating to a “strong sell” rating in a report on Monday, June 29th. Finally, TD Cowen began coverage on shares of Surrozen in a research report on Tuesday, April 21st. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Surrozen presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Institutional Investors Weigh In On Surrozen

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the period. Persistent Asset Partners Ltd acquired a new position in Surrozen during the fourth quarter worth $99,000. Citadel Advisors LLC raised its holdings in Surrozen by 32.8% during the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after purchasing an additional 3,424 shares during the last quarter. Marshall Wace LLP purchased a new stake in Surrozen during the fourth quarter worth $247,000. Finally, Geode Capital Management LLC boosted its position in Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after purchasing an additional 5,702 shares in the last quarter. 66.57% of the stock is currently owned by institutional investors and hedge funds.

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.