Surrozen’s (SRZN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Surrozen (NASDAQ:SRZN) in a report published on Monday morning,Benzinga reports. They currently have a $32.00 target price on the stock.

Surrozen Trading Down 4.2%

NASDAQ SRZN opened at $8.00 on Monday. The business’s 50-day moving average price is $10.47 and its two-hundred day moving average price is $10.94. Surrozen has a 12 month low of $6.00 and a 12 month high of $18.17. The firm has a market capitalization of $26.25 million, a PE ratio of -0.32 and a beta of 0.69.

Surrozen (NASDAQ:SRZN) last announced its earnings results on Friday, May 9th. The company reported ($3.13) EPS for the quarter, missing the consensus estimate of ($1.09) by ($2.04). The company had revenue of $0.98 million during the quarter. As a group, analysts forecast that Surrozen will post -8.49 earnings per share for the current fiscal year.

Insider Activity at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $11.60 per share, for a total transaction of $11,999,991.20. Following the completion of the acquisition, the insider now owns 795,411 shares of the company’s stock, valued at $9,226,767.60. The trade was a -432.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 45.18% of the stock is owned by insiders.

Institutional Trading of Surrozen

Several hedge funds have recently made changes to their positions in SRZN. Vivo Capital LLC bought a new stake in shares of Surrozen in the first quarter valued at $3,032,000. Stempoint Capital LP grew its position in shares of Surrozen by 91.7% in the fourth quarter. Stempoint Capital LP now owns 350,573 shares of the company’s stock valued at $5,031,000 after purchasing an additional 167,655 shares in the last quarter. Regents of The University of California purchased a new position in shares of Surrozen in the fourth quarter valued at $1,912,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Surrozen in the fourth quarter valued at $928,000. Finally, Trustees of Columbia University in the City of New York purchased a new position in shares of Surrozen in the fourth quarter valued at $688,000. 66.57% of the stock is currently owned by institutional investors.

Surrozen Company Profile

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.