Craig Parker Sells 4,524 Shares of Surrozen (NASDAQ:SRZN) Stock

Surrozen, Inc. (NASDAQ:SRZN) CEO Craig Parker sold 4,524 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 16,553 shares of the company’s stock, valued at $551,711.49. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Surrozen Stock Performance

Shares of NASDAQ SRZN traded up $0.57 during mid-day trading on Tuesday, reaching $32.64. The company’s stock had a trading volume of 95,295 shares, compared to its average volume of 113,375. The stock has a 50-day moving average of $28.15 and a two-hundred day moving average of $21.98. The stock has a market capitalization of $375.03 million, a P/E ratio of -0.98 and a beta of 0.59. Surrozen, Inc. has a 1-year low of $5.90 and a 1-year high of $35.00.

Surrozen (NASDAQ:SRZN) last issued its earnings results on Monday, March 23rd. The company reported ($7.59) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($6.30). The business had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.66 million. Surrozen had a negative net margin of 7,476.67% and a negative return on equity of 4,055.04%. Analysts predict that Surrozen, Inc. will post -4.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ikarian Capital LLC purchased a new position in shares of Surrozen in the fourth quarter valued at approximately $1,487,000. Quadrature Capital Ltd purchased a new position in shares of Surrozen in the fourth quarter valued at approximately $335,000. Millennium Management LLC boosted its stake in shares of Surrozen by 557.1% in the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after purchasing an additional 611,497 shares during the period. Eversept Partners LP boosted its stake in shares of Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company’s stock valued at $2,153,000 after purchasing an additional 18,289 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Surrozen by 169.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 190,489 shares of the company’s stock valued at $4,305,000 after purchasing an additional 119,757 shares during the period. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Analysts Set New Price Targets

SRZN has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $40.00 target price on shares of Surrozen in a research report on Tuesday, March 24th. HC Wainwright reiterated a “buy” rating and issued a $36.00 target price (up from $32.00) on shares of Surrozen in a research report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Surrozen from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, TD Cowen initiated coverage on shares of Surrozen in a research report on Tuesday, April 21st. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Surrozen presently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.