Surrozen (NASDAQ:SRZN) Announces Quarterly Earnings Results

Surrozen (NASDAQ:SRZN) issued its quarterly earnings data on Monday. The company reported ($23.88) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($22.59), FiscalAI reports. The firm had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.66 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 2,909.10%.

Surrozen Stock Up 0.4%

Shares of SRZN stock traded up $0.09 during trading hours on Monday, hitting $25.24. 72,111 shares of the company’s stock were exchanged, compared to its average volume of 108,429. Surrozen has a fifty-two week low of $5.90 and a fifty-two week high of $29.59. The firm has a market cap of $216.31 million, a P/E ratio of -1.13 and a beta of 0.53. The firm has a 50 day moving average of $23.98 and a two-hundred day moving average of $18.58.

Insider Activity at Surrozen

In related news, Director Tim Kutzkey purchased 18,052 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was bought at an average price of $19.60 per share, with a total value of $353,819.20. Following the acquisition, the director owned 1,016,658 shares in the company, valued at $19,926,496.80. The trade was a 1.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tcg Crossover Gp Ii, Llc acquired 1,190 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were bought at an average cost of $24.99 per share, for a total transaction of $29,738.10. Following the completion of the acquisition, the insider owned 675,613 shares of the company’s stock, valued at approximately $16,883,568.87. This represents a 0.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 208,410 shares of company stock valued at $4,466,346. 43.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Surrozen

Large investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd acquired a new position in shares of Surrozen during the 4th quarter worth approximately $99,000. Citadel Advisors LLC increased its holdings in shares of Surrozen by 32.8% in the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after purchasing an additional 3,424 shares during the last quarter. Marshall Wace LLP purchased a new position in Surrozen during the fourth quarter worth approximately $247,000. Geode Capital Management LLC lifted its position in 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 in the last quarter. Finally, Ieq Capital LLC acquired a new position in Surrozen during the fourth quarter worth $304,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Surrozen to a “sell” rating in a research note on Friday, November 28th. Cantor Fitzgerald started coverage on shares of Surrozen in a report on Thursday, February 19th. They issued an “overweight” rating and a $40.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

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.