Stock Traders Buy Large Volume of Surrozen Call Options (NASDAQ:SRZN)

Surrozen, Inc. (NASDAQ:SRZN) was the target of some unusual options trading activity on Monday. Stock investors purchased 4,277 call options on the stock. This represents an increase of 233% compared to the typical volume of 1,283 call options.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Zacks Research upgraded Surrozen from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Friday, July 17th. William Blair started coverage on Surrozen in a research note on Thursday, August 20th. They issued an “outperform” rating and a $51.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $54.00 price target (up from $44.00) on shares of Surrozen in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Surrozen has a consensus rating of “Moderate Buy” and an average target price of $48.33.

Insider Buying and Selling

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the transaction, the insider owned 574,047 shares of the company’s stock, valued at $12,198,498.75. The trade was a 36.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 31.74% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRZN. Bank of New York Mellon Corp bought a new position in Surrozen during the 2nd quarter worth $399,000. Perceptive Advisors LLC bought a new stake in shares of Surrozen in the first quarter valued at about $6,682,000. ADAR1 Capital Management LLC acquired a new position in shares of Surrozen in the first quarter valued at about $350,000. Renaissance Technologies LLC grew its stake in shares of Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company’s stock valued at $1,431,000 after acquiring an additional 26,500 shares in the last quarter. Finally, Eversept Partners LP increased its position in Surrozen by 23.8% during the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock worth $2,153,000 after acquiring an additional 18,289 shares during the period. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Stock Performance

Shares of SRZN opened at $23.26 on Wednesday. Surrozen has a 52 week low of $11.39 and a 52 week high of $37.83. The firm has a market cap of $270.05 million, a P/E ratio of -0.57 and a beta of 0.47. The firm’s 50-day simple moving average is $23.63 and its 200 day simple moving average is $25.10.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.29) by $0.88. The company had revenue of $5.00 million for the quarter, compared to analyst estimates of $0.47 million. As a group, equities analysts forecast that Surrozen will post -1.01 earnings per share for the current year.

Surrozen Company Profile

Surrozen, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively activate the Wnt signaling pathway, which plays an important role in tissue repair, regeneration and maintenance. The company uses proprietary antibody-based technologies designed to stimulate Wnt signaling in specific tissues while limiting potential effects elsewhere in the body.

Surrozen’s pipeline has included SZN-1326, an investigational Wnt pathway activator being developed for inflammatory bowel diseases such as ulcerative colitis, and SZN-413, an investigational therapy targeting the FZD4 Wnt signaling pathway for retinal vascular diseases.