Vivo Capital LLC Acquires New Position in Surrozen, Inc. (NASDAQ:SRZN)

Key Points

• Vivo Capital LLC has acquired a new position in Surrozen, Inc., purchasing 260,000 shares valued at approximately $3.03 million, representing about 7.92% of the company.
• Surrozen's recent earnings report revealed a loss of ($3.13) EPS, significantly missing the projected estimate of ($1.09), while generating revenue of $0.98 million.
• According to analysts, HC Wainwright has maintained a "buy" rating for Surrozen, setting a price target of $32.00 for its shares.

Vivo Capital LLC purchased a new stake in Surrozen, Inc. (NASDAQ:SRZN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 260,000 shares of the company's stock, valued at approximately $3,032,000. Vivo Capital LLC owned about 7.92% of Surrozen at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SRZN. Geode Capital Management LLC lifted its position in Surrozen by 26.1% in the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company's stock valued at $321,000 after acquiring an additional 4,630 shares during the last quarter. Trustees of Columbia University in the City of New York purchased a new stake in shares of Surrozen in the fourth quarter valued at about $688,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Surrozen in the fourth quarter valued at about $928,000. Stonepine Capital Management LLC raised its holdings in shares of Surrozen by 24.7% in the fourth quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company's stock valued at $1,969,000 after buying an additional 27,200 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its holdings in shares of Surrozen by 4.7% in the fourth quarter. Nantahala Capital Management LLC now owns 196,023 shares of the company's stock valued at $2,813,000 after buying an additional 8,817 shares during the last quarter. 66.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a "buy" rating and set a $32.00 price target on shares of Surrozen in a report on Monday, May 12th.

Surrozen Price Performance

NASDAQ:SRZN traded up $0.27 during trading hours on Tuesday, reaching $10.25. 13,793 shares of the company were exchanged, compared to its average volume of 19,538. The firm has a market cap of $87.74 million, a price-to-earnings ratio of -0.71 and a beta of 0.60. Surrozen, Inc. has a 52-week low of $5.90 and a 52-week high of $18.17. The stock has a 50 day simple moving average of $9.07 and a 200 day simple moving average of $9.84.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, beating analysts' consensus estimates of ($1.23) by $0.09. The business had revenue of $0.98 million for the quarter. Surrozen had a negative net margin of 274.42% and a negative return on equity of 842.90%. On average, analysts predict that Surrozen, Inc. will post -8.49 EPS for the current fiscal 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.