Surrozen (NASDAQ:SRZN) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Surrozen (NASDAQ:SRZN) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

Several other brokerages also recently commented on SRZN. HC Wainwright restated 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Friday, July 17th. Finally, TD Cowen assumed coverage on Surrozen in a report on Tuesday, April 21st. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Surrozen presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Surrozen Stock Down 1.0%

Shares of NASDAQ:SRZN opened at $19.20 on Tuesday. The firm’s 50 day moving average price is $23.44 and its 200-day moving average price is $25.28. Surrozen has a twelve month low of $8.70 and a twelve month high of $35.00. The stock has a market capitalization of $222.91 million, a PE ratio of -0.51 and a beta of 0.51.

Surrozen (NASDAQ:SRZN) last released its earnings results on Wednesday, May 6th. The company reported ($11.65) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($10.56). The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $4.00 million. Analysts expect that Surrozen will post -7.2 earnings per share for the current fiscal year.

Insider Activity at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of Surrozen stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total value of $6,906,250.00. Following the sale, the insider directly owned 574,047 shares of the company’s stock, valued at approximately $12,198,498.75. The trade was a 36.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Charles O. Williams sold 2,036 shares of the business’s stock in a transaction dated 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 in the company, valued at $552,311.43. This represents a 10.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 333,144 shares of company stock worth $7,177,690 over the last 90 days. Company insiders own 31.74% of the company’s stock.

Institutional Trading of Surrozen

A number of large investors have recently added to or reduced their stakes in SRZN. Millennium Management LLC raised its holdings in shares of Surrozen by 557.1% during the 4th quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock worth $16,301,000 after acquiring an additional 611,497 shares in the last quarter. Spruce Street Capital LP purchased a new position in shares of Surrozen in the fourth quarter valued at $9,764,000. Kalehua Capital Management LLC bought a new stake in Surrozen in the fourth quarter worth $8,705,000. Braidwell LP raised its stake in Surrozen by 235.7% during the fourth quarter. Braidwell LP now owns 470,000 shares of the company’s stock valued at $10,622,000 after purchasing an additional 330,000 shares in the last quarter. Finally, Perceptive Advisors LLC purchased a new stake in Surrozen during the first quarter valued at $6,682,000. Institutional investors own 66.57% of the company’s stock.

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.