Surrozen (NASDAQ:SRZN) Announces Quarterly Earnings Results, Misses Estimates By $6.56 EPS

Surrozen (NASDAQ:SRZN) issued its quarterly earnings results on Monday. The company reported ($9.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.54) by ($6.56), Zacks reports. The business had revenue of $0.66 million during the quarter.

Surrozen Stock Performance

Shares of Surrozen stock opened at $11.12 on Wednesday. Surrozen has a twelve month low of $6.00 and a twelve month high of $18.17. The business has a 50-day moving average price of $11.33 and a 200-day moving average price of $11.02.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SRZN shares. Guggenheim upgraded Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. HC Wainwright reaffirmed a “buy” rating and set a $32.00 price objective on shares of Surrozen in a report on Wednesday.

Insider Activity at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of Surrozen stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average price of $11.60 per share, for a total transaction of $11,999,991.20. Following the completion of the transaction, the insider now owns 795,411 shares of the company’s stock, valued at approximately $9,226,767.60. This trade represents a -432.71 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 43.50% of the stock is owned by corporate insiders.

Surrozen Company Profile

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.