Surrozen (NASDAQ:SRZN) Releases Earnings Results, Misses Expectations By $6.30 EPS

Surrozen (NASDAQ:SRZN) announced its quarterly earnings data on Monday. The company reported ($7.59) EPS for the quarter, missing the consensus estimate of ($1.29) by ($6.30), Zacks reports. Surrozen had a negative net margin of 7,476.67% and a negative return on equity of 1,240.42%. The firm had revenue of $0.53 million for the quarter, compared to the consensus estimate of $0.66 million.

Surrozen Stock Up 6.9%

NASDAQ SRZN traded up $1.73 on Wednesday, reaching $26.73. The company had a trading volume of 24,388 shares, compared to its average volume of 108,071. The stock has a market capitalization of $229.06 million, a PE ratio of -0.80 and a beta of 0.53. The firm’s 50 day moving average price is $24.21 and its 200 day moving average price is $18.76. Surrozen has a 12 month low of $5.90 and a 12 month high of $29.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Thursday, January 22nd. Wall Street Zen raised Surrozen to a “sell” rating in a research note on Friday, November 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 target price on shares of Surrozen in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 target price (up from $32.00) on shares of Surrozen in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Buying and Selling at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc bought 35,433 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average cost of $24.88 per share, for a total transaction of $881,573.04. Following the completion of the transaction, the insider owned 675,018 shares of the company’s stock, valued at approximately $16,794,447.84. This represents a 5.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Tim Kutzkey bought 18,052 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased at an average price of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the transaction, the director directly owned 1,016,658 shares of the company’s stock, valued at $19,926,496.80. This represents a 1.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 208,410 shares of company stock valued at $4,466,346 in the last 90 days. Insiders own 43.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRZN. Persistent Asset Partners Ltd purchased a new stake in Surrozen during the fourth quarter valued at approximately $99,000. Citadel Advisors LLC increased its position in shares of Surrozen by 32.8% during the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock valued at $179,000 after purchasing an additional 3,424 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Surrozen during the 4th quarter valued at approximately $247,000. Geode Capital Management LLC boosted its stake in Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after buying an additional 5,702 shares during the period. Finally, Ieq Capital LLC bought a new position in Surrozen during the fourth quarter valued at $304,000. Hedge funds and other institutional investors own 66.57% of the company’s stock.

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.