Yang Li Sells 1,584 Shares of Surrozen (NASDAQ:SRZN) Stock

Surrozen, Inc. (NASDAQ:SRZN) VP Yang Li sold 1,584 shares of Surrozen stock in a transaction that occurred 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 transaction, the vice president directly owned 17,216 shares in the company, valued at $573,809.28. This represents a 8.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Surrozen Stock Up 1.8%

NASDAQ:SRZN traded up $0.57 during trading hours on Tuesday, hitting $32.64. 95,295 shares of the stock traded hands, compared to its average volume of 113,375. Surrozen, Inc. has a 1 year low of $5.90 and a 1 year high of $35.00. The company has a market cap of $375.03 million, a price-to-earnings ratio of -0.98 and a beta of 0.59. The stock has a 50 day moving average price of $28.15 and a 200 day moving average price of $21.98.

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

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently modified their holdings of SRZN. Millennium Management LLC lifted its holdings in shares of Surrozen by 557.1% in the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock worth $16,301,000 after buying 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 worth $9,764,000. Kalehua Capital Management LLC purchased a new position in shares of Surrozen in the fourth quarter worth $8,705,000. Braidwell LP lifted its holdings in shares of Surrozen by 235.7% in the fourth quarter. Braidwell LP now owns 470,000 shares of the company’s stock worth $10,622,000 after buying an additional 330,000 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings 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 worth $4,305,000 after buying an additional 119,757 shares in the last quarter. Hedge funds and other institutional investors own 66.57% of the company’s stock.

Analyst Upgrades and Downgrades

SRZN has been the topic of several analyst reports. TD Cowen initiated coverage on shares of Surrozen in a report on Tuesday, April 21st. They set a “buy” rating on the stock. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target (up from $32.00) on shares of Surrozen in a report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Surrozen currently has a consensus rating of “Moderate Buy” and a consensus price target 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.