Surrozen (NASDAQ:SRZN) Major Shareholder Buys $379,052.70 in Stock

Surrozen, Inc. (NASDAQ:SRZN) major shareholder Tcg Crossover Gp Ii, Llc acquired 15,223 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were acquired at an average price of $24.90 per share, with a total value of $379,052.70. Following the completion of the transaction, the insider directly owned 683,225 shares in the company, valued at approximately $17,012,302.50. This trade represents a 2.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Tcg Crossover Gp Ii, Llc also recently made the following trade(s):

• On Tuesday, March 24th, Tcg Crossover Gp Ii, Llc bought 106,658 shares of Surrozen stock. The shares were acquired at an average cost of $24.69 per share, for a total transaction of $2,633,386.02.
• On Monday, March 16th, Tcg Crossover Gp Ii, Llc bought 1,190 shares of Surrozen stock. The stock was acquired at an average price of $24.99 per share, for a total transaction of $29,738.10.
• On Friday, March 13th, Tcg Crossover Gp Ii, Llc purchased 35,433 shares of Surrozen stock. The stock was bought at an average cost of $24.88 per share, with a total value of $881,573.04.
• On Thursday, March 12th, Tcg Crossover Gp Ii, Llc purchased 12,374 shares of Surrozen stock. The shares were bought at an average price of $24.99 per share, with a total value of $309,226.26.
• On Thursday, February 12th, Tcg Crossover Gp Ii, Llc acquired 1,093 shares of Surrozen stock. The shares were bought at an average cost of $23.86 per share, for a total transaction of $26,078.98.
• On Wednesday, February 11th, Tcg Crossover Gp Ii, Llc acquired 17,763 shares of Surrozen stock. The stock was bought at an average price of $23.57 per share, for a total transaction of $418,673.91.
• On Tuesday, February 3rd, Tcg Crossover Gp Ii, Llc acquired 4,355 shares of Surrozen stock. The stock was bought at an average price of $21.94 per share, for a total transaction of $95,548.70.
• On Monday, February 2nd, Tcg Crossover Gp Ii, Llc bought 731 shares of Surrozen stock. The stock was bought at an average price of $21.38 per share, with a total value of $15,628.78.
• On Friday, January 30th, Tcg Crossover Gp Ii, Llc bought 4,271 shares of Surrozen stock. The shares were bought at an average cost of $21.39 per share, with a total value of $91,356.69.

Surrozen Trading Up 4.6%

Shares of Surrozen stock traded up $1.14 on Wednesday, hitting $26.14. 47,046 shares of the company traded hands, compared to its average volume of 89,411. Surrozen, Inc. has a 12-month low of $5.90 and a 12-month high of $29.59. The company has a 50-day moving average price of $24.34 and a 200 day moving average price of $18.81.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Monday, March 23rd. The company reported ($7.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.29) by ($6.30). The firm had revenue of $0.53 million for the quarter, compared to analysts’ expectations of $0.66 million. Surrozen had a negative return on equity of 1,240.42% and a negative net margin of 7,476.67%. As a group, sell-side analysts forecast that Surrozen, Inc. will post -8.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Surrozen by 22.6% in 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 last quarter. Stonepine Capital Management LLC boosted its stake in shares of Surrozen by 7.1% during the 2nd quarter. Stonepine Capital Management LLC now owns 306,029 shares of the company’s stock worth $2,736,000 after acquiring an additional 20,247 shares in the last quarter. Stempoint Capital LP increased its holdings in shares of 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 acquiring an additional 445,713 shares during the last quarter. Armistice Capital LLC bought a new position in shares of Surrozen in the 2nd quarter valued at approximately $536,000. Finally, Braidwell LP bought a new position in shares of Surrozen in the 2nd quarter valued at approximately $1,252,000. 66.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SRZN. Wall Street Zen raised Surrozen to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Surrozen in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $36.00 target price (up from $32.00) on shares of Surrozen in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Surrozen has an average rating of “Moderate Buy” and a consensus target price of $38.00.

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.