Brokerages Set Surrozen, Inc. (NASDAQ:SRZN) PT at $42.00

Shares of Surrozen, Inc. (NASDAQ:SRZN) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $42.00.

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a research note on Tuesday, March 24th. Zacks Research downgraded shares of Surrozen from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. TD Cowen assumed coverage on shares of Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. Finally, HC Wainwright reissued 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.

Surrozen Trading Down 1.3%

NASDAQ SRZN traded down $0.31 on Friday, hitting $23.19. 148,749 shares of the company were exchanged, compared to its average volume of 165,243. Surrozen has a 1-year low of $8.20 and a 1-year high of $35.00. The firm has a 50 day moving average of $25.69 and a two-hundred day moving average of $25.29. The company has a market cap of $269.24 million, a P/E ratio of -0.62 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $4.00 million. Research analysts anticipate that Surrozen will post -7.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Charles O. Williams sold 2,036 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $67,859.88. Following the sale, the chief operating officer owned 16,571 shares of the company’s stock, valued at $552,311.43. This trade represents a 10.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Yang Li sold 1,584 shares of Surrozen stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total value of $52,794.72. Following the transaction, the vice president owned 17,216 shares in the company, valued at $573,809.28. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 8,144 shares of company stock worth $271,440. Corporate insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Perceptive Advisors LLC bought a new stake in shares of Surrozen during the first quarter worth $6,682,000. ADAR1 Capital Management LLC acquired a new position in Surrozen in the 1st quarter worth $350,000. Renaissance Technologies LLC increased its holdings in Surrozen by 117.1% during the 1st quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock worth $1,431,000 after purchasing an additional 26,500 shares in the last quarter. Ikarian Capital LLC bought a new position in Surrozen during the 4th quarter worth about $1,487,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Surrozen in the 4th quarter valued at about $335,000. Institutional investors own 66.57% of the company’s stock.

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.