RA Capital Management L.P. Purchases 396,550 Shares of Surrozen, Inc. $SRZN

Key Points

• RA Capital Management L.P. increased its stake in Surrozen, Inc. by 140.3%, acquiring an additional 396,550 shares, bringing its total holdings to 679,130 shares valued at approximately $7.9 million.
• Surrozen has received a buy rating from Wall Street analysts, with a current consensus target price of $38.50 per share.
• The company reported a quarterly EPS of ($1.14), beating estimates, and has a market cap of $104.47 million as of the article's date.

RA Capital Management L.P. boosted its holdings in Surrozen, Inc. (NASDAQ:SRZN - Free Report) by 140.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 679,130 shares of the company's stock after acquiring an additional 396,550 shares during the period. RA Capital Management L.P. owned 20.70% of Surrozen worth $7,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nantahala Capital Management LLC grew its holdings in Surrozen by 17.1% in the 1st quarter. Nantahala Capital Management LLC now owns 229,527 shares of the company's stock valued at $2,676,000 after buying an additional 33,504 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Surrozen in the 1st quarter valued at $2,390,000. Heights Capital Management Inc. acquired a new position in Surrozen in the 1st quarter valued at $524,000. Stonepine Capital Management LLC grew its holdings in Surrozen by 108.3% in the 1st quarter. Stonepine Capital Management LLC now owns 285,782 shares of the company's stock valued at $3,332,000 after buying an additional 148,582 shares in the last quarter. Finally, Vivo Capital LLC acquired a new stake in shares of Surrozen during the 1st quarter worth $3,032,000. 66.57% of the stock is owned by institutional investors and hedge funds.

Surrozen Trading Down 2.0%

NASDAQ SRZN traded down $0.25 during trading on Friday, hitting $12.20. 10,581 shares of the company's stock were exchanged, compared to its average volume of 17,021. The company has a market cap of $104.55 million, a PE ratio of -0.85 and a beta of 0.62. Surrozen, Inc. has a fifty-two week low of $5.90 and a fifty-two week high of $18.17. The stock's 50 day moving average price is $10.00 and its two-hundred day moving average price is $9.90.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.23) by $0.09. The firm had revenue of $0.98 million during the quarter. Surrozen had a negative return on equity of 545.43% and a negative net margin of 274.42%. Analysts forecast that Surrozen, Inc. will post -8.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Surrozen Company 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.