Driehaus Capital Management LLC Acquires Shares of 204,934 Surrozen, Inc. $SRZN

Key Points

• Driehaus Capital Management has acquired a new position in Surrozen, Inc. by purchasing 204,934 shares worth approximately $2.39 million, now owning 6.25% of the company.
• Surrozen's stock has experienced a 4.4% increase, trading at $12.19, with a market cap of $104.47 million and a twelve-month price range of $5.90 to $18.17.
• Analysts have a consensus rating of "Buy" on Surrozen, with an average price target of $38.50, significantly higher than its current trading price.

Driehaus Capital Management LLC acquired a new stake in shares of Surrozen, Inc. (NASDAQ:SRZN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 204,934 shares of the company's stock, valued at approximately $2,390,000. Driehaus Capital Management LLC owned approximately 6.25% of Surrozen as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SRZN. Vivo Capital LLC purchased a new position in Surrozen in the 1st quarter worth approximately $3,032,000. Stempoint Capital LP increased its holdings in shares of Surrozen by 91.7% in the 4th quarter. Stempoint Capital LP now owns 350,573 shares of the company's stock worth $5,031,000 after purchasing an additional 167,655 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in shares of Surrozen by 108.3% in the 1st quarter. Stonepine Capital Management LLC now owns 285,782 shares of the company's stock worth $3,332,000 after purchasing an additional 148,582 shares in the last quarter. Trustees of Columbia University in the City of New York purchased a new position in shares of Surrozen in the fourth quarter worth $688,000. Finally, Heights Capital Management Inc. bought a new position in shares of Surrozen during the first quarter valued at $524,000. Institutional investors own 66.57% of the company's stock.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a "buy" rating and issued a $32.00 price objective on shares of Surrozen in a report on Monday, May 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $38.50.

Surrozen Stock Performance

Shares of NASDAQ SRZN traded up $0.12 during midday trading on Thursday, hitting $12.66. 5,383 shares of the company's stock traded hands, compared to its average volume of 19,449. The firm has a fifty day moving average of $9.85 and a 200 day moving average of $9.91. Surrozen, Inc. has a 1 year low of $5.90 and a 1 year high of $18.17. The stock has a market capitalization of $108.45 million, a price-to-earnings ratio of -0.88 and a beta of 0.62.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, beating the consensus estimate of ($1.23) by $0.09. Surrozen had a negative return on equity of 545.43% and a negative net margin of 274.42%.The company had revenue of $0.98 million for the quarter. On average, equities analysts anticipate that Surrozen, Inc. will post -8.49 earnings per share for the current year.

About Surrozen

Surrozen, Inc, a clinical stage biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair. The company is developing antibody-based therapeutics which targets various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.