683 Capital Management LLC Invests $949,000 in Surrozen, Inc. $SRZN

683 Capital Management LLC bought a new position in shares of Surrozen, Inc. (NASDAQ:SRZN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 41,999 shares of the company’s stock, valued at approximately $949,000.

Several other large investors have also made changes to their positions in SRZN. Spruce Street Capital LP acquired a new position in shares of Surrozen during the 4th quarter worth approximately $9,764,000. Kalehua Capital Management LLC acquired a new position in shares of Surrozen during the 4th quarter worth approximately $8,705,000. Braidwell LP raised its stake in shares of Surrozen by 235.7% during the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock worth $10,622,000 after buying an additional 330,000 shares during the period. Millennium Management LLC acquired a new position in shares of Surrozen during the 3rd quarter worth approximately $1,414,000. Finally, Empery Asset Management LP acquired a new position in shares of Surrozen during the 4th quarter worth approximately $2,350,000. 66.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Surrozen Stock Up 5.7%

Shares of NASDAQ:SRZN opened at $24.04 on Thursday. The business has a fifty day moving average of $27.65 and a two-hundred day moving average of $24.85. The stock has a market cap of $279.10 million, a P/E ratio of -0.64 and a beta of 0.51. Surrozen, Inc. has a 52-week low of $8.00 and a 52-week high of $35.00.

Surrozen (NASDAQ:SRZN) last issued its earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $4.00 million. Surrozen had a negative net margin of 4,810.50% and a negative return on equity of 4,055.04%. On average, equities analysts anticipate that Surrozen, Inc. will post -7.2 earnings per share for the current year.

Insider Buying and Selling

In other Surrozen news, COO Charles O. Williams sold 2,036 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $67,859.88. Following the completion of the sale, the chief operating officer directly owned 16,571 shares in the company, valued at $552,311.43. This represents a 10.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yang Li sold 1,584 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $52,794.72. Following the completion of the sale, the vice president owned 17,216 shares of the company’s stock, valued at approximately $573,809.28. The trade was a 8.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 8,144 shares of company stock valued at $271,440 in the last quarter. Corporate insiders own 31.74% of the company’s stock.

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.