5AM Venture Management LLC Has $7.04 Million Position in Surrozen, Inc. $SRZN

Key Points

• 5AM Venture Management reduced its Surrozen stake by 30% in the second quarter, selling 116,250 shares and retaining 271,250 shares valued at approximately $7.04 million. Institutional investors collectively own 66.57% of SRZN.
• Surrozen reported quarterly revenue of $5.0 million and a loss of $0.41 per share, beating analyst expectations for revenue of $0.47 million and a loss of $1.29 per share.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $45, despite insider selling and SRZN shares opening at $22.20.

5AM Venture Management LLC lessened its stake in Surrozen, Inc. (NASDAQ:SRZN - Free Report) by 30.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,250 shares of the company's stock after selling 116,250 shares during the quarter. Surrozen comprises 2.4% of 5AM Venture Management LLC's investment portfolio, making the stock its 12th biggest position. 5AM Venture Management LLC owned 2.34% of Surrozen worth $7,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of Surrozen by 557.1% during the 4th 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. Braidwell LP boosted its stake in Surrozen by 235.7% in 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 in the last quarter. Spruce Street Capital LP bought a new position in Surrozen in the fourth quarter valued at about $9,764,000. Kalehua Capital Management LLC acquired a new position in Surrozen during the fourth quarter worth about $8,705,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Surrozen by 21.7% in the third quarter. Vanguard Group Inc. now owns 266,418 shares of the company's stock worth $3,433,000 after acquiring an additional 47,468 shares during the last quarter. Institutional investors own 66.57% of the company's stock.

Insider Transactions at Surrozen

In related news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the transaction, the insider directly owned 574,047 shares of the company's stock, valued at $12,198,498.75. This 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 can be accessed through the SEC website. 31.74% of the stock is currently owned by corporate insiders.

Surrozen Stock Up 0.8%

Shares of NASDAQ SRZN opened at $22.20 on Wednesday. The company has a market capitalization of $257.74 million, a PE ratio of -0.55 and a beta of 0.56. The firm has a fifty day simple moving average of $23.04 and a 200 day simple moving average of $25.66. Surrozen, Inc. has a twelve month low of $11.25 and a twelve month high of $35.00.

Surrozen (NASDAQ:SRZN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.88. The business had revenue of $5.00 million during the quarter, compared to the consensus estimate of $0.47 million. As a group, equities analysts expect that Surrozen, Inc. will post -7.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SRZN. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Surrozen in a research note on Friday, July 17th. William Blair assumed coverage on Surrozen in a report on Thursday, August 20th. They set an "outperform" rating and a $51.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $44.00 price objective on shares of Surrozen in a report on Monday, August 10th. Finally, Zacks Research raised Surrozen from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.00.

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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