5AM Venture Management LLC Buys 77,500 Shares of Surrozen, Inc. $SRZN

Key Points

• 5AM Venture Management LLC increased its Surrozen stake by 25% in the fourth quarter, buying 77,500 shares and bringing its holdings to 387,500 shares worth about $8.76 million.
• Several other institutional investors also added positions, including Braidwell LP, which sharply increased its stake, while institutions now own 66.57% of Surrozen shares.
• Insiders sold shares in May, including CEO Craig C. Parker and VP Yang Li, even as analysts remain mixed but lean bullish with a Moderate Buy consensus and a $42 average price target.

5AM Venture Management LLC boosted its stake in Surrozen, Inc. (NASDAQ:SRZN - Free Report) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,500 shares of the company's stock after acquiring an additional 77,500 shares during the period. Surrozen accounts for approximately 2.8% of 5AM Venture Management LLC's holdings, making the stock its 14th biggest holding. 5AM Venture Management LLC owned 4.52% of Surrozen worth $8,758,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. 683 Capital Management LLC bought a new stake in Surrozen in the fourth quarter valued at $949,000. Schonfeld Strategic Advisors LLC lifted its position in Surrozen by 8.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company's stock valued at $1,687,000 after buying an additional 5,621 shares during the period. Braidwell LP lifted its position 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 buying an additional 330,000 shares during the period. Fred Alger Management LLC purchased a new position in Surrozen during the fourth quarter valued at $2,250,000. Finally, Persistent Asset Partners Ltd purchased a new position in Surrozen during the fourth quarter valued at $99,000. Institutional investors own 66.57% of the company's stock.

Insiders Place Their Bets

In related news, VP Yang Li sold 1,584 shares of Surrozen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $52,794.72. Following the completion of the sale, the vice president directly owned 17,216 shares in the company, valued at approximately $573,809.28. This trade represents a 8.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig C. Parker sold 4,524 shares of Surrozen stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.33, for a total value of $150,784.92. Following the completion of the sale, the chief executive officer owned 16,553 shares of the company's stock, valued at $551,711.49. The trade was a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,144 shares of company stock valued at $271,440 over the last quarter. Corporate insiders own 31.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald reissued an "overweight" rating and set a $40.00 price objective on shares of Surrozen in a research report on Tuesday, March 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Surrozen in a research report on Tuesday, April 21st. Wall Street Zen raised Surrozen from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. TD Cowen assumed coverage on Surrozen in a research report on Tuesday, April 21st. They set a "buy" rating for the company. Finally, HC Wainwright reissued 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. One research 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.

Surrozen Price Performance

SRZN opened at $24.04 on Thursday. Surrozen, Inc. has a 1 year low of $8.00 and a 1 year high of $35.00. The stock has a 50-day moving average price of $27.65 and a 200-day moving average price of $24.85. The firm has a market cap of $279.10 million, a PE ratio of -0.64 and a beta of 0.51.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($11.65) EPS for the quarter, missing the consensus estimate of ($1.09) by ($10.56). Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 4,810.50%.The business had revenue of $5.00 million during the quarter, compared to the consensus estimate of $4.00 million. As a group, sell-side analysts anticipate that Surrozen, Inc. will post -7.2 EPS for the current year.

Surrozen Profile

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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