HC Wainwright Reiterates "Buy" Rating for Surrozen (NASDAQ:SRZN)

Key Points

• HC Wainwright reiterated a “Buy” rating on Surrozen with a $44 price target, implying approximately 71.7% upside from the reported $25.62 share price.
• Surrozen reported a quarterly loss of $0.41 per share, beating the $1.29 consensus loss estimate, while revenue of $5.0 million exceeded expectations of $0.47 million. Analysts overall rate the stock “Moderate Buy,” with an average target price of $42.
• A major shareholder sold 325,000 shares for about $6.9 million, reducing its position by 36.15%; insiders still own 31.74% of the company, while institutional investors hold 66.57%.

Surrozen (NASDAQ:SRZN - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $44.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 71.74% from the company's current price.

A number of other research firms also recently weighed in on SRZN. Weiss Ratings restated a "sell (d-)" rating on shares of Surrozen in a report on Friday, July 17th. Zacks Research raised Surrozen from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, TD Cowen initiated coverage on Surrozen in a research report on Tuesday, April 21st. They set a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Surrozen has an average rating of "Moderate Buy" and an average target price of $42.00.

Surrozen Stock Performance

Shares of SRZN stock opened at $25.62 on Monday. The stock has a market capitalization of $297.45 million, a price-to-earnings ratio of -0.63 and a beta of 0.52. Surrozen has a 12-month low of $9.11 and a 12-month high of $35.00. The stock's 50-day moving average price is $22.86 and its 200-day moving average price is $25.41.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $0.47 million. As a group, research analysts predict that Surrozen will post -7.2 EPS for the current fiscal year.

Insider Activity at Surrozen

In related news, major shareholder Tcg Crossover Gp Ii, Llc sold 325,000 shares of the company's stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $21.25, for a total transaction of $6,906,250.00. Following the transaction, the insider directly owned 574,047 shares in the company, valued at approximately $12,198,498.75. This represents a 36.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.74% of the company's stock.

Institutional Trading of Surrozen

Several institutional investors have recently added to or reduced their stakes in SRZN. China Universal Asset Management Co. Ltd. lifted its stake in shares of Surrozen by 50.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company's stock worth $34,000 after acquiring an additional 500 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Surrozen by 32.8% during the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company's stock valued at $179,000 after acquiring an additional 3,424 shares during the period. Persistent Asset Partners Ltd bought a new position in Surrozen in the 4th quarter valued at $99,000. Schonfeld Strategic Advisors LLC increased its stake in Surrozen by 8.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company's stock worth $1,687,000 after purchasing an additional 5,621 shares during the period. Finally, Geode Capital Management LLC increased its stake in Surrozen by 22.6% in the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company's stock worth $277,000 after purchasing an additional 5,702 shares during the period. Institutional investors own 66.57% of the company's stock.

About Surrozen

Surrozen, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapeutic antibodies that target the Wnt signaling pathway for applications in tissue repair, regeneration and oncology. Founded in 2012 and headquartered in South San Francisco, California, the company leverages its proprietary SurroBody platform to design bispecific antibody molecules capable of modulating Wnt receptor activity with enhanced tissue specificity.

The SurroBody platform enables the generation of high-affinity, dual-binding antibodies engineered to either activate or inhibit Wnt signaling, a pathway critical to cell proliferation, differentiation and homeostasis.

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