Surrozen, Inc. (NASDAQ:SRZN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Seven brokerages give Surrozen an average “Moderate Buy” rating, with four buys, one strong buy, one hold and one sell. The average 12-month price target is $45, including recent targets of $51 from William Blair and $44 from HC Wainwright.
• Surrozen’s latest quarterly results exceeded expectations: The company reported a loss of $0.41 per share versus the consensus estimate of a $1.29 loss, while revenue reached $5.0 million compared with analysts’ $0.47 million forecast.
• The stock remains well below recent highs: Shares opened at $16.94, compared with a 52-week range of $11.39 to $35.00, and traded below both their 50-day and 200-day moving averages. Institutional investors own 66.57% of the company, while a major shareholder recently sold 325,000 shares.

Shares of Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $45.00.

Several research analysts recently commented on the stock. William Blair assumed coverage on shares of Surrozen in a report on Thursday, August 20th. They set an "outperform" rating and a $51.00 target price for the company. Zacks Research upgraded shares of Surrozen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Surrozen in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $44.00 target price on shares of Surrozen in a research report on Monday, August 10th.

Surrozen Stock Performance

NASDAQ:SRZN opened at $16.94 on Friday. The stock has a 50-day simple moving average of $21.94 and a 200 day simple moving average of $25.15. Surrozen has a 52-week low of $11.39 and a 52-week high of $35.00. The company has a market cap of $196.67 million, a PE ratio of -0.42 and a beta of 0.56.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, topping analysts' consensus estimates of ($1.29) by $0.88. The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $0.47 million.

Insider Buying and Selling at Surrozen

In other news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the company's stock in a transaction that occurred on Wednesday, July 22nd. The stock was sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the sale, the insider owned 574,047 shares in the company, valued at $12,198,498.75. This represents a 36.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 31.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Surrozen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Spruce Street Capital LP acquired a new position in Surrozen during the fourth quarter worth approximately $9,764,000. 5AM Venture Management LLC grew its position in shares of Surrozen by 25.0% in the fourth quarter. 5AM Venture Management LLC now owns 387,500 shares of the company's stock valued at $8,758,000 after purchasing an additional 77,500 shares during the last quarter. Perceptive Advisors LLC bought a new position in shares of Surrozen during the first quarter worth approximately $6,682,000. Empery Asset Management LP bought a new position in shares of Surrozen during the fourth quarter worth approximately $2,350,000. Finally, Eversept Partners LP lifted its holdings in Surrozen by 23.8% during the 4th quarter. Eversept Partners LP now owns 95,286 shares of the company's stock worth $2,153,000 after purchasing an additional 18,289 shares during the last quarter. 66.57% of the stock is owned by institutional investors.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company developing regenerative medicines designed to activate the Wnt signaling pathway. Wnt signaling plays an important role in tissue development, repair and regeneration, and Surrozen's approach is intended to stimulate the pathway selectively in specific tissues while limiting unwanted effects elsewhere in the body.

The company's product candidates are based on engineered antibody therapeutics and its proprietary SWEETS platform. Surrozen has focused its research on potential treatments for diseases affecting the liver, gastrointestinal system and eyes, where impaired tissue repair or abnormal signaling may contribute to disease progression.

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