Perceptive Advisors LLC Makes New Investment in Surrozen, Inc. $SRZN

Perceptive Advisors LLC bought a new stake in Surrozen, Inc. (NASDAQ:SRZN) during the first quarter, Holdings Channel.com reports. The firm bought 229,393 shares of the company’s stock, valued at approximately $6,682,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Surrozen by 50.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Surrozen by 32.8% in the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company’s stock worth $179,000 after acquiring an additional 3,424 shares during the period. Persistent Asset Partners Ltd bought a new stake in Surrozen in the 4th quarter valued at about $99,000. Schonfeld Strategic Advisors LLC lifted its position in Surrozen by 8.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company’s stock valued at $1,687,000 after purchasing an additional 5,621 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Surrozen by 22.6% during 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 during the period. Institutional investors and hedge funds own 66.57% of the company’s stock.

Insider Activity at Surrozen

In other Surrozen news, CEO Craig C. Parker sold 4,524 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $150,784.92. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Yang Li sold 1,584 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total transaction of $52,794.72. Following the sale, the vice president owned 17,216 shares in the company, valued at $573,809.28. This trade represents a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 333,144 shares of company stock worth $7,177,690 in the last 90 days. Corporate insiders own 31.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SRZN. Zacks Research upgraded shares of Surrozen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. TD Cowen started coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $44.00 price objective (up from $36.00) on shares of Surrozen in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Surrozen Stock Performance

Shares of SRZN opened at $22.21 on Friday. The firm has a market capitalization of $257.86 million, a price-to-earnings ratio of -0.59 and a beta of 0.51. Surrozen, Inc. has a one year low of $9.03 and a one year high of $35.00. The stock’s fifty day moving average is $23.23 and its 200-day moving average is $25.27.

Surrozen (NASDAQ:SRZN) last issued 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). The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. Analysts forecast that Surrozen, Inc. will post -7.2 EPS for the current fiscal year.

Surrozen 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.