Surrozen, Inc. (NASDAQ:SRZN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Surrozen, Inc. (NASDAQ:SRZN) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $42.00.

A number of analysts have recently issued reports on SRZN shares. HC Wainwright restated a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, TD Cowen assumed coverage on Surrozen in a research report on Tuesday, April 21st. They issued a “buy” rating on the stock.

Surrozen Trading Down 1.0%

Shares of SRZN opened at $19.20 on Thursday. Surrozen has a 12-month low of $8.70 and a 12-month high of $35.00. The firm has a market capitalization of $222.91 million, a P/E ratio of -0.51 and a beta of 0.51. The firm has a 50-day moving average price of $23.44 and a 200 day moving average price of $25.28.

Surrozen (NASDAQ:SRZN) last issued its earnings results on Wednesday, May 6th. The company reported ($11.65) EPS 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. Equities research analysts predict that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Surrozen news, CEO Craig C. Parker sold 4,524 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $150,784.92. Following the completion of the transaction, the chief executive officer owned 16,553 shares of the company’s stock, valued at $551,711.49. This trade represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles O. Williams sold 2,036 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 transaction of $67,859.88. Following the sale, the chief operating officer owned 16,571 shares of the company’s stock, valued at approximately $552,311.43. This represents a 10.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 333,144 shares of company stock valued at $7,177,690 over the last 90 days. Company insiders own 31.74% of the company’s stock.

Hedge Funds Weigh In On Surrozen

A number of hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its holdings in Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in Surrozen during the fourth quarter worth $99,000. Marshall Wace LLP purchased a new position in shares of Surrozen during the fourth quarter worth $247,000. ADAR1 Capital Management LLC purchased a new position in shares of Surrozen during the first quarter worth $350,000. Finally, Ieq Capital LLC purchased a new position in shares of Surrozen during the fourth quarter worth $304,000. Hedge funds and other institutional investors own 66.57% 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.