Cantor Fitzgerald Upgrades Surrozen (NASDAQ:SRZN) to Strong-Buy

Surrozen (NASDAQ:SRZN) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a $40.00 target price on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 48.53% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen raised Surrozen to a “sell” rating in a research report on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Thursday, January 22nd. Finally, Lifesci Capital raised shares of Surrozen to a “strong-buy” rating in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $36.00.

Surrozen Stock Performance

Shares of NASDAQ SRZN opened at $26.93 on Thursday. Surrozen has a 52-week low of $5.90 and a 52-week high of $27.96. The firm has a market capitalization of $230.79 million, a price-to-earnings ratio of -1.21 and a beta of 0.58. The stock has a 50 day moving average price of $21.80 and a 200 day moving average price of $16.18.

Insider Activity at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc bought 1,093 shares of the stock in a transaction on Thursday, February 12th. The stock was bought at an average cost of $23.86 per share, for a total transaction of $26,078.98. Following the completion of the purchase, the insider directly owned 651,114 shares in the company, valued at approximately $15,535,580.04. The trade was a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tim Kutzkey purchased 18,052 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was purchased at an average cost of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the acquisition, the director directly owned 1,016,658 shares of the company’s stock, valued at approximately $19,926,496.80. The trade was a 1.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 231,713 shares of company stock valued at $4,635,485 over the last 90 days. Insiders own 45.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRZN. Braidwell LP acquired a new stake in Surrozen in the 2nd quarter worth approximately $1,252,000. Stempoint Capital LP increased its stake in Surrozen by 185.1% during the 2nd quarter. Stempoint Capital LP now owns 686,539 shares of the company’s stock valued at $6,138,000 after purchasing an additional 445,713 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Surrozen by 7.1% in the second quarter. Stonepine Capital Management LLC now owns 306,029 shares of the company’s stock worth $2,736,000 after buying an additional 20,247 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after buying an additional 5,702 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Surrozen during the fourth quarter worth $247,000. 66.57% of the stock is owned by institutional investors and hedge funds.

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.