Surrozen (NASDAQ:SRZN) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Surrozen (NASDAQ:SRZN) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Surrozen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. TD Cowen assumed coverage on shares of Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Surrozen Trading Up 0.9%

Shares of SRZN opened at $25.95 on Monday. Surrozen has a 1 year low of $8.00 and a 1 year high of $35.00. The stock has a market cap of $301.28 million, a P/E ratio of -0.69 and a beta of 0.51. The stock’s 50-day moving average price is $26.81 and its two-hundred day moving average price is $25.22.

Surrozen (NASDAQ:SRZN) last posted its earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The company had revenue of $5.00 million for the quarter, compared to analyst estimates 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, equities analysts forecast that Surrozen will post -7.2 EPS for the current year.

Insider Activity at Surrozen

In other Surrozen news, 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 value of $52,794.72. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Charles O. Williams sold 2,036 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 $67,859.88. Following the completion of the transaction, the chief operating officer directly owned 16,571 shares in the company, valued at approximately $552,311.43. The trade was a 10.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 8,144 shares of company stock worth $271,440. 31.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Surrozen

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Empery Asset Management LP acquired a new position in Surrozen in the 4th quarter worth $2,350,000. 5AM Venture Management LLC increased its holdings in Surrozen by 25.0% during the 4th quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after purchasing an additional 77,500 shares in the last quarter. Spruce Street Capital LP acquired a new stake in shares of Surrozen in the 4th quarter valued at about $9,764,000. 683 Capital Management LLC acquired a new stake in shares of Surrozen in the 4th quarter valued at about $949,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Surrozen by 50.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. 66.57% of the stock is currently 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.