Eversept Partners LP Sells 36,662 Shares of Surrozen, Inc. $SRZN

Eversept Partners LP lowered its holdings in Surrozen, Inc. (NASDAQ:SRZN) by 38.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,624 shares of the company’s stock after selling 36,662 shares during the quarter. Eversept Partners LP’s holdings in Surrozen were worth $1,708,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. boosted its position in shares of Surrozen by 50.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after acquiring an additional 500 shares during the period. Persistent Asset Partners Ltd bought a new stake in Surrozen in the 4th quarter valued at $99,000. Citadel Advisors LLC raised its position in Surrozen by 32.8% in the third quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after purchasing an additional 3,424 shares in the last quarter. Marshall Wace LLP acquired a new stake in Surrozen in the 4th quarter valued at $247,000. Finally, Geode Capital Management LLC boosted its stake in shares of Surrozen by 22.6% in the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after purchasing an additional 5,702 shares in the last quarter. 66.57% of the stock is owned by institutional investors.

Insider Buying and Selling at Surrozen

In other news, CEO Craig C. Parker sold 4,524 shares of the company’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 $150,784.92. Following the sale, the chief executive officer owned 16,553 shares in the company, valued at $551,711.49. This represents a 21.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Charles O. Williams sold 2,036 shares of the stock in a transaction on Monday, May 4th. The shares were 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 of the company’s stock, valued at approximately $552,311.43. This represents a 10.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 8,144 shares of company stock worth $271,440. Insiders own 31.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SRZN. HC Wainwright reaffirmed a “buy” rating and set a $44.00 price target (up from $36.00) on shares of Surrozen in a report on Thursday, May 7th. TD Cowen started coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating on the stock. Zacks Research lowered Surrozen from a “hold” rating to a “strong sell” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Surrozen Stock Performance

Shares of Surrozen stock opened at $19.81 on Tuesday. The business’s 50 day simple moving average is $23.72 and its 200 day simple moving average is $25.28. Surrozen, Inc. has a 52-week low of $8.70 and a 52-week high of $35.00. The firm has a market cap of $229.99 million, a PE ratio of -0.53 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last released its 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. As a group, equities research analysts predict that Surrozen, Inc. will post -7.2 EPS for the current year.

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.