Surrozen (NASDAQ:SRZN) Announces Earnings Results, Misses Expectations By $22.59 EPS

Surrozen (NASDAQ:SRZN) announced its earnings results on Monday. The company reported ($23.88) earnings per share for the quarter, missing the consensus estimate of ($1.29) by ($22.59), FiscalAI reports. Surrozen had a negative net margin of 2,909.10% and a negative return on equity of 4,055.04%. The firm had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.66 million.

Surrozen Stock Performance

SRZN stock traded up $0.09 during trading on Monday, reaching $25.24. The company had a trading volume of 72,111 shares, compared to its average volume of 108,429. The company has a market cap of $216.31 million, a price-to-earnings ratio of -1.13 and a beta of 0.53. Surrozen has a twelve month low of $5.90 and a twelve month high of $29.59. The firm has a 50-day simple moving average of $23.98 and a 200-day simple moving average of $18.58.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald started coverage on Surrozen in a research report on Thursday, February 19th. They set an “overweight” rating and a $40.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Surrozen to a “sell” rating in a research report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Insider Buying and Selling at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc bought 35,433 shares of Surrozen stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $24.88 per share, for a total transaction of $881,573.04. Following the purchase, the insider directly owned 675,018 shares of the company’s stock, valued at approximately $16,794,447.84. The trade was a 5.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Group Gp Lp Column III purchased 18,052 shares of the stock in a transaction on Tuesday, January 20th. The shares were purchased at an average cost of $19.60 per share, with a total value of $353,819.20. Following the transaction, the insider owned 1,016,658 shares in the company, valued at $19,926,496.80. This trade represents a 1.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 208,410 shares of company stock worth $4,466,346. 43.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Surrozen

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Surrozen by 557.1% during the 4th quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after buying an additional 611,497 shares during the last quarter. Braidwell LP lifted its holdings in shares of Surrozen by 235.7% in the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after buying an additional 330,000 shares during the period. Kalehua Capital Management LLC purchased a new stake in shares of Surrozen in the fourth quarter worth about $8,705,000. Vanguard Group Inc. grew its holdings in Surrozen by 21.7% during the third quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after acquiring an additional 47,468 shares during the period. Finally, Balyasny Asset Management L.P. grew its holdings in Surrozen by 169.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,489 shares of the company’s stock worth $4,305,000 after acquiring an additional 119,757 shares during the period. 66.57% of the stock is owned by hedge funds and other institutional investors.

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.