Surrozen, Inc. (NASDAQ:SRZN) Sees Large Growth in Short Interest

Surrozen, Inc. (NASDAQ:SRZN) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 709,757 shares, a growth of 105.1% from the June 15th total of 346,034 shares. Based on an average trading volume of 229,914 shares, the short-interest ratio is presently 3.1 days. Approximately 9.0% of the shares of the company are short sold.

Surrozen Price Performance

Shares of NASDAQ SRZN traded down $1.04 during trading hours on Thursday, reaching $20.75. The stock had a trading volume of 170,947 shares, compared to its average volume of 121,929. The business’s fifty day moving average is $25.02 and its two-hundred day moving average is $25.29. The company has a market cap of $240.91 million, a price-to-earnings ratio of -0.55 and a beta of 0.51. Surrozen has a twelve month low of $8.20 and a twelve month high of $35.00.

Surrozen (NASDAQ:SRZN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.09) by ($10.56). The business had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $4.00 million. Sell-side analysts forecast that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Craig C. Parker sold 4,524 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the completion of the sale, the chief executive officer directly owned 16,553 shares of the company’s stock, valued at approximately $551,711.49. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yang Li sold 1,584 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $52,794.72. Following the completion of the sale, the vice president owned 17,216 shares in the company, valued at approximately $573,809.28. The trade was a 8.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 8,144 shares of company stock worth $271,440. 31.74% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its holdings in Surrozen by 50.0% during 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. Persistent Asset Partners Ltd acquired a new position in shares of Surrozen in the 4th quarter worth approximately $99,000. Marshall Wace LLP acquired a new position in shares of Surrozen in the 4th quarter worth approximately $247,000. ADAR1 Capital Management LLC bought a new position in shares of Surrozen during the 1st quarter worth approximately $350,000. Finally, Ieq Capital LLC bought a new position in shares of Surrozen during the 4th quarter worth approximately $304,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on SRZN shares. Wall Street Zen upgraded shares of Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. HC Wainwright restated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. TD Cowen began coverage on shares of Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $40.00 target price on shares of Surrozen in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Surrozen presently has an average rating of “Moderate Buy” and an average target price of $42.00.

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.