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

Surrozen (NASDAQ:SRZN)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $36.00 target price on the stock, up from their prior target price of $32.00. HC Wainwright’s target price would suggest a potential upside of 42.63% from the company’s current price.

Several other research analysts have also commented on the stock. Cantor Fitzgerald initiated coverage on shares of Surrozen in a research note on Thursday, February 19th. They set an “overweight” rating and a $40.00 price target on the stock. Wall Street Zen raised shares of Surrozen to a “sell” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a research report 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.00.

Surrozen Price Performance

SRZN opened at $25.24 on Tuesday. The company has a market capitalization of $216.31 million, a PE ratio of -1.13 and a beta of 0.53. Surrozen has a fifty-two week low of $5.90 and a fifty-two week high of $29.59. The business has a 50-day moving average of $24.13 and a 200-day moving average of $18.67.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Monday, March 23rd. The company reported ($23.88) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($22.59). The firm had revenue of $0.53 million during 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%. On average, equities research analysts expect that Surrozen will post -8.49 earnings per share for the current fiscal year.

Insider Activity at Surrozen

In other Surrozen news, Director Tim Kutzkey purchased 18,052 shares of the stock in a transaction dated Tuesday, January 20th. The shares were bought at an average cost of $19.60 per share, with a total value of $353,819.20. Following the completion of the transaction, the director owned 1,016,658 shares in the company, valued at $19,926,496.80. This trade represents a 1.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Tcg Crossover Gp Ii, Llc acquired 35,433 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $24.88 per share, with a total value of $881,573.04. Following the transaction, the insider directly owned 675,018 shares in the company, valued at $16,794,447.84. The trade was a 5.54% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 208,410 shares of company stock worth $4,466,346. 43.50% of the stock is owned by insiders.

Institutional Trading of Surrozen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in Surrozen by 557.1% in the 4th quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock worth $16,301,000 after buying an additional 611,497 shares during the period. Stempoint Capital LP grew its stake in shares of Surrozen by 185.1% in the second quarter. Stempoint Capital LP now owns 686,539 shares of the company’s stock worth $6,138,000 after acquiring an additional 445,713 shares during the last quarter. Spruce Street Capital LP bought a new position in Surrozen during the fourth quarter worth $9,764,000. Kalehua Capital Management LLC bought a new position in Surrozen during the fourth quarter worth $8,705,000. Finally, Braidwell LP raised its stake in Surrozen by 235.7% during the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after purchasing an additional 330,000 shares during the last quarter. Institutional investors and hedge funds 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.