Surrozen, Inc. (SRZN) - What Are Analysts Thinking About This Stock?

Key Points

• Analysts have a “Moderate Buy” consensus on Surrozen, with four buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $48.33, including recent targets of $54 from HC Wainwright and $51 from William Blair.
• SRZN opened at $24.76, with a market capitalization of approximately $287 million and a 52-week range of $11.39 to $37.83. The stock is trading below the analyst consensus price target despite a recent quarterly earnings beat.
• Institutional investors and hedge funds own 66.57% of the company, while insiders own 31.74%; however, major shareholder TCG Crossover sold 325,000 shares, reducing its ownership by 36.15%.

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.33.

A number of research firms have recently issued reports on SRZN. HC Wainwright reiterated a "buy" rating and set a $54.00 price objective (up from $44.00) on shares of Surrozen in a research note on Friday, September 25th. William Blair initiated coverage on shares of Surrozen in a research report on Thursday, August 20th. They set an "outperform" rating and a $51.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Surrozen in a report on Friday, July 17th. Finally, Zacks Research raised shares of Surrozen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th.

Insider Buying and Selling

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total value of $6,906,250.00. Following the completion of the sale, the insider directly owned 574,047 shares in the company, valued at $12,198,498.75. This trade represents a 36.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.74% of the stock is owned by insiders.

Hedge Funds Weigh In On Surrozen

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in Surrozen during the 2nd quarter worth $399,000. Perceptive Advisors LLC purchased a new stake in Surrozen in the first quarter valued at about $6,682,000. ADAR1 Capital Management LLC purchased a new stake in Surrozen in the first quarter valued at about $350,000. Renaissance Technologies LLC raised its stake in Surrozen by 117.1% in the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company's stock valued at $1,431,000 after buying an additional 26,500 shares during the last quarter. Finally, Eversept Partners LP boosted its holdings in Surrozen by 23.8% in the fourth quarter. Eversept Partners LP now owns 95,286 shares of the company's stock worth $2,153,000 after acquiring an additional 18,289 shares in the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Stock Down 16.6%

SRZN opened at $24.76 on Tuesday. The business has a fifty day moving average of $23.60 and a 200 day moving average of $25.12. Surrozen has a 52-week low of $11.39 and a 52-week high of $37.83. The stock has a market cap of $287.46 million, a P/E ratio of -0.61 and a beta of 0.47.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($1.29) by $0.88. The firm had revenue of $5.00 million for the quarter, compared to the consensus estimate of $0.47 million. Equities analysts anticipate that Surrozen will post -1.01 EPS for the current fiscal year.

About Surrozen

Surrozen, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively activate the Wnt signaling pathway, which plays an important role in tissue repair, regeneration and maintenance. The company uses proprietary antibody-based technologies designed to stimulate Wnt signaling in specific tissues while limiting potential effects elsewhere in the body.

Surrozen's pipeline has included SZN-1326, an investigational Wnt pathway activator being developed for inflammatory bowel diseases such as ulcerative colitis, and SZN-413, an investigational therapy targeting the FZD4 Wnt signaling pathway for retinal vascular diseases.

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