44,978 Shares in Surrozen, Inc. $SRZN Purchased by Heights Capital Management Inc.

Key Points

• Heights Capital Management Inc. acquired a new stake in Surrozen, Inc. for approximately $524,000, owning about 1.37% of the company as of their latest SEC filing.
• Surrozen has experienced substantial interest from other large investors, with notable purchases from Adage Capital and Vivo Capital, indicating growing institutional confidence in the biotechnology firm.
• The stock trades with a current price of $11.40, significantly above its 1-year low of $5.90, with sell-side analysts giving it an average rating of "Buy" and a target price of $38.50.

Heights Capital Management Inc. bought a new position in shares of Surrozen, Inc. (NASDAQ:SRZN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,978 shares of the company's stock, valued at approximately $524,000. Heights Capital Management Inc. owned about 1.37% of Surrozen as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of Surrozen by 26.1% during the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company's stock worth $321,000 after acquiring an additional 4,630 shares during the last quarter. Trustees of Columbia University in the City of New York bought a new position in shares of Surrozen during the fourth quarter worth $688,000. Adage Capital Partners GP L.L.C. bought a new position in Surrozen during the fourth quarter valued at $928,000. Stonepine Capital Management LLC lifted its position in Surrozen by 24.7% during the fourth quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company's stock valued at $1,969,000 after purchasing an additional 27,200 shares during the last quarter. Finally, Vivo Capital LLC bought a new position in Surrozen during the first quarter valued at $3,032,000. Institutional investors own 66.57% of the company's stock.

Analysts Set New Price Targets

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

Surrozen Price Performance

Shares of SRZN traded up $0.06 during midday trading on Tuesday, hitting $12.25. The stock had a trading volume of 1,955 shares, compared to its average volume of 19,477. Surrozen, Inc. has a 1 year low of $5.90 and a 1 year high of $18.17. The firm has a market cap of $104.98 million, a PE ratio of -0.85 and a beta of 0.62. The stock's 50 day moving average is $9.71 and its 200 day moving average is $9.87.

Surrozen (NASDAQ:SRZN - Get Free Report) last announced 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 net margin of 274.42% and a negative return on equity of 545.43%. The business had revenue of $0.98 million for the quarter. As a group, equities research analysts expect that Surrozen, Inc. will post -8.49 earnings per share for the current fiscal year.

Surrozen Profile

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.