Surrozen, Inc. $SRZN Shares Sold by Regents of The University of California

Key Points

• Regents of the University of California reduced its Surrozen stake by 38.5% in the third quarter, selling 83,333 shares and retaining 133,207 shares worth approximately $4.3 million. Institutional investors collectively own 66.57% of SRZN.
• Analyst sentiment remains generally positive, with Surrozen carrying a consensus “Moderate Buy” rating and an average price target of $48.33. Ratings range from “Strong Buy” to “Sell,” including price targets of $51 and $54 from William Blair and HC Wainwright.
• SRZN shares rose 8.2% to open at $29.53, while the company’s latest quarterly results beat expectations, reporting a loss of $0.41 per share versus the consensus loss estimate of $1.29 and revenue of $5 million.

Regents of The University of California trimmed its position in Surrozen, Inc. (NASDAQ:SRZN - Free Report) by 38.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,207 shares of the company's stock after selling 83,333 shares during the quarter. Surrozen accounts for approximately 0.1% of Regents of The University of California's holdings, making the stock its 10th biggest holding. Regents of The University of California owned about 1.15% of Surrozen worth $4,287,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Surrozen in the 2nd quarter worth $399,000. Perceptive Advisors LLC purchased a new position in shares of Surrozen in the first quarter valued at about $6,682,000. ADAR1 Capital Management LLC bought a new position in shares of Surrozen during the first quarter valued at about $350,000. Finally, Renaissance Technologies LLC raised its stake in shares of Surrozen by 117.1% during the first quarter. Renaissance Technologies LLC now owns 49,126 shares of the company's stock valued at $1,431,000 after acquiring an additional 26,500 shares during the last quarter. 66.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SRZN. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surrozen in a report on Thursday, October 15th. Zacks Research raised Surrozen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. William Blair started coverage on Surrozen in a report on Thursday, August 20th. They set an "outperform" rating and a $51.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $54.00 price target (up from $44.00) on shares of Surrozen in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.33.

Surrozen Trading Up 8.2%

Shares of SRZN opened at $29.53 on Wednesday. Surrozen, Inc. has a 1-year low of $11.39 and a 1-year high of $37.83. The firm's 50-day moving average price is $23.96 and its 200-day moving average price is $24.81. The firm has a market capitalization of $342.84 million, a price-to-earnings ratio of -0.73 and a beta of 0.47.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.29) by $0.88. The company had revenue of $5.00 million during the quarter, compared to the consensus estimate of $0.47 million. On average, research analysts forecast that Surrozen, Inc. will post -1.01 EPS for the current fiscal year.

Surrozen Company Profile

Surrozen, Inc is a clinical-stage biotechnology company focused on developing regenerative medicines that selectively activate the Wnt signaling pathway. Wnt signaling plays an important role in tissue development, repair and regeneration, and Surrozen is working to harness the pathway while limiting the potential safety risks associated with broad or uncontrolled activation.

The company uses its SWEETS (Surrozen Wnt Engineered Efficacious Therapeutics) platform to discover and engineer antibody-based medicines designed to modulate Wnt signaling in specific tissues.

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