Brokerages Set Surrozen, Inc. (NASDAQ:SRZN) Price Target at $42.00

Surrozen, Inc. (NASDAQ:SRZN) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $42.00.

A number of brokerages recently commented on SRZN. TD Cowen began coverage on shares of Surrozen in a research report on Tuesday, April 21st. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of Surrozen in a research report on Tuesday, March 24th.

Insider Activity at Surrozen

In related news, major shareholder Tcg Crossover Gp Ii, Llc purchased 106,658 shares of Surrozen stock in a transaction dated Tuesday, March 24th. The stock was bought at an average cost of $24.69 per share, for a total transaction of $2,633,386.02. Following the transaction, the insider owned 736,554 shares in the company, valued at approximately $18,185,518.26. The trade was a 16.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Yang Li sold 1,584 shares of Surrozen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $52,794.72. Following the sale, the vice president owned 17,216 shares of the company’s stock, valued at approximately $573,809.28. The trade was a 8.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 123,071 shares of company stock valued at $3,042,177 and have sold 8,144 shares valued at $271,440. Company insiders own 31.74% of the company’s stock.

Institutional Investors Weigh In On Surrozen

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Surrozen by 22.6% during the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after purchasing an additional 5,702 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Surrozen during the 2nd quarter worth approximately $536,000. Vanguard Group Inc. raised its position in shares of Surrozen by 21.7% during the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after purchasing an additional 47,468 shares during the last quarter. Acuta Capital Partners LLC raised its position in shares of Surrozen by 5.0% during the 3rd quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock worth $2,299,000 after purchasing an additional 8,415 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Surrozen during the 3rd quarter worth approximately $889,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Stock Up 0.1%

NASDAQ SRZN opened at $23.39 on Wednesday. Surrozen has a 52-week low of $8.00 and a 52-week high of $35.00. The business’s 50-day moving average price is $27.91 and its 200 day moving average price is $24.62. The firm has a market cap of $271.56 million, a P/E ratio of -0.62 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $4.00 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%. As a group, analysts anticipate that Surrozen will post -7.2 earnings per share for the current year.

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.