Surrozen, Inc. (NASDAQ:SRZN) Receives $42.00 Consensus PT from Analysts

Shares of Surrozen, Inc. (NASDAQ:SRZN) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $42.00.

SRZN has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $44.00 price target (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. TD Cowen initiated coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price target on shares of Surrozen in a research note on Tuesday, March 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th.

Insiders Place Their Bets

In other Surrozen news, VP Yang Li sold 1,584 shares of the business’s stock in a transaction that occurred 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 directly owned 17,216 shares in the company, valued at approximately $573,809.28. The trade was a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig C. Parker sold 4,524 shares of the business’s 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 sale, the chief executive officer owned 16,553 shares of the company’s stock, valued at approximately $551,711.49. This trade represents a 21.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 170,878 shares of company stock worth $4,232,976 and have sold 8,144 shares worth $271,440. Corporate insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Surrozen by 50.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Surrozen during the 4th quarter worth approximately $99,000. Marshall Wace LLP acquired a new position in Surrozen in the fourth quarter valued at approximately $247,000. ADAR1 Capital Management LLC acquired a new position in Surrozen in the first quarter valued at approximately $350,000. Finally, Ieq Capital LLC acquired a new position in Surrozen in the fourth quarter valued at approximately $304,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Stock Performance

Shares of SRZN opened at $27.44 on Friday. The stock has a 50-day moving average of $28.73 and a two-hundred day moving average of $23.14. Surrozen has a one year low of $7.11 and a one year high of $35.00. The stock has a market cap of $318.58 million, a P/E ratio of -0.73 and a beta of 0.59.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data 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). Surrozen had a negative net margin of 4,810.50% and a negative return on equity of 4,055.04%. The company had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $4.00 million. Analysts predict that Surrozen will post -7.2 EPS for the current fiscal year.

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.