Surrozen, Inc. (NASDAQ:SRZN) Short Interest Down 37.3% in June

Surrozen, Inc. (NASDAQ:SRZN) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 346,034 shares, a decrease of 37.3% from the May 31st total of 551,841 shares. Currently, 4.4% of the company’s shares are short sold. Based on an average trading volume of 97,035 shares, the days-to-cover ratio is currently 3.6 days.

Insider Activity at Surrozen

In related news, COO Charles O. Williams sold 2,036 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $67,859.88. Following the completion of the sale, the chief operating officer owned 16,571 shares of the company’s stock, valued at $552,311.43. This trade represents a 10.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Yang Li sold 1,584 shares of Surrozen stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $52,794.72. Following the completion of the sale, the vice president owned 17,216 shares in the company, valued at approximately $573,809.28. This trade represents a 8.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 8,144 shares of company stock worth $271,440 over the last quarter. 31.74% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Surrozen by 22.6% in the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock worth $277,000 after acquiring an additional 5,702 shares in the last quarter. Armistice Capital LLC bought a new position in shares of Surrozen during the second quarter valued at $536,000. Vanguard Group Inc. raised its position in shares of Surrozen by 21.7% in the 3rd quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after purchasing an additional 47,468 shares during the last quarter. Acuta Capital Partners LLC raised its position in shares of Surrozen by 5.0% in the 3rd quarter. Acuta Capital Partners LLC now owns 178,415 shares of the company’s stock worth $2,299,000 after purchasing an additional 8,415 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Surrozen in the 3rd quarter worth about $889,000. Institutional investors own 66.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SRZN. Zacks Research lowered shares of Surrozen from a “hold” rating to a “strong sell” rating in a research note on Monday. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $40.00 price objective on shares of Surrozen in a report on Tuesday, March 24th. HC Wainwright reaffirmed 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. Finally, TD Cowen began coverage on Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Surrozen Price Performance

NASDAQ:SRZN opened at $24.92 on Friday. Surrozen has a one year low of $8.00 and a one year high of $35.00. The company’s 50-day simple moving average is $26.56 and its 200 day simple moving average is $25.23. The firm has a market capitalization of $289.32 million, a P/E ratio of -0.66 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last announced its 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 business had revenue of $5.00 million for the quarter, compared to analyst estimates of $4.00 million. On average, equities research analysts expect that Surrozen will post -7.2 earnings per share for the current fiscal year.

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.