Surrozen, Inc. (NASDAQ:SRZN) Stock Has Consensus Target Price of $48.33

Shares of Surrozen, Inc. (NASDAQ:SRZN) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $48.33.

Several equities research analysts recently weighed in on the stock. William Blair assumed coverage on shares of Surrozen in a research report on Thursday, August 20th. They set an “outperform” rating and a $51.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Zacks Research raised shares of Surrozen from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, HC Wainwright restated a “buy” rating and set a $54.00 price target (up from $44.00) on shares of Surrozen in a report on Friday, September 25th.

Surrozen Price Performance

Shares of NASDAQ:SRZN opened at $25.07 on Tuesday. The stock has a market capitalization of $291.06 million, a PE ratio of -0.62 and a beta of 0.47. The company’s 50-day moving average price is $23.73 and its two-hundred day moving average price is $25.04. Surrozen has a one year low of $11.39 and a one year high of $37.83.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($1.29) by $0.88. The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $0.47 million. On average, analysts anticipate that Surrozen will post -1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 574,047 shares in the company, valued at approximately $12,198,498.75. This trade represents a 36.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.74% of the stock is owned by corporate insiders.

Institutional Trading of Surrozen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC acquired a new stake in Surrozen during the 1st quarter worth $350,000. Bank of New York Mellon Corp purchased a new position in Surrozen in the 2nd quarter valued at approximately $399,000. 683 Capital Management LLC purchased a new stake in Surrozen during the 4th quarter worth about $949,000. Renaissance Technologies LLC raised its holdings in Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after acquiring an additional 26,500 shares in the last quarter. Finally, Eversept Partners LP increased its holdings in Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock valued at $2,153,000 after buying an additional 18,289 shares during the last quarter. Institutional investors and hedge funds own 66.57% of the company’s stock.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively activate the Wnt signaling pathway, which plays an important role in tissue repair, regeneration and maintenance. The company uses proprietary antibody-based technologies designed to stimulate Wnt signaling in specific tissues while limiting potential effects elsewhere in the body.

Surrozen’s pipeline has included SZN-1326, an investigational Wnt pathway activator being developed for inflammatory bowel diseases such as ulcerative colitis, and SZN-413, an investigational therapy targeting the FZD4 Wnt signaling pathway for retinal vascular diseases.