Surrozen (NASDAQ:SRZN) Trading Down 3.9% – What’s Next?

Surrozen, Inc. (NASDAQ:SRZN) traded down 3.9% during trading on Monday . The company traded as low as $20.50 and last traded at $20.69. 145,771 shares were traded during trading, an increase of 69% from the average session volume of 86,449 shares. The stock had previously closed at $21.52.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. TD Cowen began coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Surrozen has an average rating of “Moderate Buy” and an average target price of $42.00.

Surrozen Stock Down 3.9%

The firm has a market capitalization of $240.21 million, a P/E ratio of -0.55 and a beta of 0.51. The stock has a fifty day moving average of $28.39 and a 200-day moving average of $24.45.

Surrozen (NASDAQ:SRZN) last posted 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 for the quarter, compared to the consensus estimate of $4.00 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%. Sell-side analysts predict that Surrozen, Inc. will post -7.2 EPS for the current fiscal year.

Insider Transactions at Surrozen

In other Surrozen news, CEO Craig C. Parker sold 4,524 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 directly owned 16,553 shares in the company, valued at $551,711.49. This trade represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 firm’s stock in a transaction on Tuesday, March 24th. The stock was bought at an average price of $24.69 per share, with a total value of $2,633,386.02. Following the completion of the purchase, the insider owned 736,554 shares of the company’s stock, valued at approximately $18,185,518.26. This represents a 16.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have acquired 170,878 shares of company stock valued at $4,232,976 and have sold 8,144 shares valued at $271,440. 31.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC bought a new position in Surrozen in the first quarter valued at approximately $6,682,000. ADAR1 Capital Management LLC bought a new position in Surrozen in the first quarter valued at approximately $350,000. Renaissance Technologies LLC grew its stake in Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after purchasing an additional 26,500 shares in the last quarter. Ikarian Capital LLC bought a new position in Surrozen in the fourth quarter valued at approximately $1,487,000. Finally, Quadrature Capital Ltd bought a new position in Surrozen in the fourth quarter valued at approximately $335,000. 66.57% of the stock is currently owned by institutional investors.

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.