Cantor Fitzgerald Reaffirms Overweight Rating for Surrozen (NASDAQ:SRZN)

Key Points

• Cantor Fitzgerald reaffirmed an "Overweight" rating on Surrozen with a $40 price target, implying roughly a 62.85% upside from the prior close.
• Analyst views are mixed but tilt positive — MarketBeat shows a consensus of Moderate Buy with a $38 average price target, while individual ratings range from Strong Buy/Buy to Sell.
• Surrozen posted a massive quarterly EPS miss (reported -$23.88 vs. -$1.29 expected), has deeply negative margins/ROE, and currently trades near $24.56 with a ~$210.5M market cap, signaling significant risk despite insider purchases and some analyst optimism.

Surrozen (NASDAQ:SRZN - Get Free Report)'s stock had its "overweight" rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $40.00 price target on the stock. Cantor Fitzgerald's target price points to a potential upside of 62.85% from the company's previous close.

A number of other research firms have also recently issued reports on SRZN. Wall Street Zen upgraded Surrozen to a "sell" rating in a report on Friday, November 28th. HC Wainwright reaffirmed a "buy" rating and set a $36.00 price objective (up from $32.00) on shares of Surrozen in a research report on Tuesday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Surrozen in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Surrozen currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.00.

Surrozen Price Performance

SRZN traded down $0.68 during trading on Tuesday, reaching $24.56. The company had a trading volume of 29,789 shares, compared to its average volume of 106,565. The business's fifty day moving average price is $24.13 and its 200 day moving average price is $18.67. Surrozen has a 12 month low of $5.90 and a 12 month high of $29.59. The company has a market cap of $210.50 million, a P/E ratio of -1.10 and a beta of 0.53.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($23.88) EPS for the quarter, missing analysts' consensus estimates of ($1.29) by ($22.59). The company had revenue of $0.53 million for the quarter, compared to analyst estimates of $0.66 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 2,909.10%. As a group, sell-side analysts predict that Surrozen will post -8.49 EPS for the current fiscal year.

Insider Buying and Selling at Surrozen

In related news, major shareholder Tcg Crossover Gp Ii, Llc acquired 1,190 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was bought at an average price of $24.99 per share, for a total transaction of $29,738.10. Following the acquisition, the insider directly owned 675,613 shares of the company's stock, valued at approximately $16,883,568.87. The trade was a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Group Gp Lp Column III purchased 18,052 shares of Surrozen stock in a transaction that occurred on Tuesday, January 20th. The shares were bought at an average cost of $19.60 per share, with a total value of $353,819.20. Following the completion of the transaction, the insider directly owned 1,016,658 shares of the company's stock, valued at approximately $19,926,496.80. The trade was a 1.81% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 208,410 shares of company stock worth $4,466,346. Insiders own 43.50% of the company's stock.

Institutional Investors Weigh In On Surrozen

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. grew its position in shares of Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company's stock valued at $34,000 after acquiring an additional 500 shares during the period. Persistent Asset Partners Ltd bought a new stake in shares of Surrozen in the 4th quarter valued at about $99,000. Citadel Advisors LLC lifted its stake in Surrozen by 32.8% in the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company's stock valued at $179,000 after purchasing an additional 3,424 shares during the last quarter. Marshall Wace LLP acquired a new stake in Surrozen in the 4th quarter valued at about $247,000. Finally, Geode Capital Management LLC grew its holdings in Surrozen by 22.6% during the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company's stock worth $277,000 after purchasing an additional 5,702 shares during the period. 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.

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