Surrozen (NASDAQ:SRZN) Major Shareholder Sells $6,906,250.00 in Stock

Surrozen, Inc. (NASDAQ:SRZN) 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 completion of the sale, the insider directly owned 574,047 shares of the company’s stock, valued at $12,198,498.75. This trade represents a 36.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Surrozen Trading Up 8.5%

NASDAQ SRZN opened at $20.83 on Friday. The stock has a market cap of $241.84 million, a P/E ratio of -0.55 and a beta of 0.51. The company’s fifty day simple moving average is $23.31 and its 200-day simple moving average is $25.30. Surrozen, Inc. has a 52 week low of $9.03 and a 52 week high of $35.00.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings results 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). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. On average, research analysts expect that Surrozen, Inc. will post -7.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Surrozen

Several hedge funds and other institutional investors have recently modified their holdings of SRZN. China Universal Asset Management Co. Ltd. raised its stake in shares of Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Citadel Advisors LLC grew its stake 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. Persistent Asset Partners Ltd acquired a new position in Surrozen in the fourth quarter worth about $99,000. Schonfeld Strategic Advisors LLC increased its holdings in Surrozen by 8.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company’s stock valued at $1,687,000 after buying an additional 5,621 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 valued at $277,000 after buying an additional 5,702 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SRZN. TD Cowen started coverage on Surrozen in a research note on Tuesday, April 21st. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. Finally, Zacks Research raised Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.