432,040 Shares in Surrozen, Inc. $SRZN Purchased by Spruce Street Capital LP

Spruce Street Capital LP acquired a new position in shares of Surrozen, Inc. (NASDAQ:SRZN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 432,040 shares of the company’s stock, valued at approximately $9,764,000. Surrozen makes up 3.2% of Spruce Street Capital LP’s investment portfolio, making the stock its 11th biggest holding. Spruce Street Capital LP owned approximately 5.04% of Surrozen as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SRZN. Kalehua Capital Management LLC purchased a new stake in Surrozen during the 4th quarter worth about $8,705,000. Millennium Management LLC purchased a new stake in Surrozen during the 3rd quarter worth about $1,414,000. Empery Asset Management LP purchased a new stake in Surrozen during the 4th quarter worth about $2,350,000. Schonfeld Strategic Advisors LLC purchased a new stake in Surrozen during the 3rd quarter worth about $889,000. Finally, Armistice Capital LLC purchased a new stake in Surrozen during the 2nd quarter worth about $536,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Surrozen Price Performance

SRZN opened at $23.14 on Tuesday. The stock has a market capitalization of $268.66 million, a price-to-earnings ratio of -0.62 and a beta of 0.51. The business has a 50-day moving average of $27.82 and a two-hundred day moving average of $24.76. Surrozen, Inc. has a 12 month low of $8.00 and a 12 month high of $35.00.

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

Insider Transactions at Surrozen

In other news, COO Charles O. Williams sold 2,036 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $67,859.88. Following the completion of the sale, the chief operating officer owned 16,571 shares in the company, valued at approximately $552,311.43. The trade was a 10.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig C. Parker sold 4,524 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the sale, the chief executive officer owned 16,553 shares of the company’s stock, valued at $551,711.49. The trade was a 21.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,144 shares of company stock worth $271,440 over the last 90 days. Company insiders own 31.74% of the company’s stock.

Analyst Ratings Changes

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