Surrozen (NASDAQ:SRZN) Posts Earnings Results, Beats Expectations By $0.88 EPS

Surrozen (NASDAQ:SRZN) issued its quarterly earnings results on Thursday. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.88, FiscalAI reports. The company had revenue of $5.00 million during the quarter, compared to analyst estimates of $0.47 million.

Surrozen Trading Up 18.4%

NASDAQ:SRZN opened at $25.62 on Friday. The company has a 50-day moving average of $22.86 and a 200-day moving average of $25.37. The firm has a market cap of $297.45 million, a price-to-earnings ratio of -0.68 and a beta of 0.52. Surrozen has a twelve month low of $9.11 and a twelve month high of $35.00.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SRZN. Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. TD Cowen started coverage on Surrozen in a research note on Tuesday, April 21st. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research report on Friday, July 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Activity

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the sale, the insider owned 574,047 shares in the company, valued at $12,198,498.75. The trade was a 36.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 31.74% of the company’s stock.

Institutional Investors Weigh In On Surrozen

Large investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd acquired a new stake in shares of Surrozen in the fourth quarter valued at $99,000. Citadel Advisors LLC lifted its position in Surrozen by 32.8% during the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after buying an additional 3,424 shares in the last quarter. Marshall Wace LLP bought a new stake in Surrozen during the 4th quarter worth about $247,000. Geode Capital Management LLC grew its holdings in 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 acquiring an additional 5,702 shares during the last quarter. Finally, Ieq Capital LLC acquired a new stake in Surrozen in the 4th quarter valued at about $304,000. Institutional investors 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.