Surrozen, Inc. (NASDAQ:SRZN) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus: Five covering firms give Surrozen an average rating of "Moderate Buy" (1 sell, 3 buy, 1 strong buy) with an average 12‑month price target of $38.00.
• Weak quarterly results: Surrozen reported an EPS of ($7.59) vs. consensus ($1.29) and $0.53M revenue, showing extreme negative margins and ROE, and analysts forecast about ‑4.04 EPS for the current fiscal year.
• Insider and ownership activity: Major shareholder TCG Crossover bought 106,658 shares at $24.69 (increasing its stake ~16.9%), insiders own 31.74% of shares, and the stock trades around $32.63 with a market cap of ~$375M.

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the five ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $38.00.

SRZN has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $40.00 price objective on shares of Surrozen in a research report on Tuesday, March 24th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surrozen in a report on Thursday, January 22nd. HC Wainwright restated a "buy" rating and issued a $36.00 price target (up from $32.00) on shares of Surrozen in a report on Tuesday, March 24th. Wall Street Zen upgraded Surrozen from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, TD Cowen initiated coverage on shares of Surrozen in a research report on Tuesday. They issued a "buy" rating on the stock.

Surrozen Trading Up 1.2%

Shares of NASDAQ SRZN opened at $32.63 on Tuesday. The stock has a market capitalization of $374.92 million, a price-to-earnings ratio of -0.96 and a beta of 0.52. Surrozen has a 12-month low of $5.90 and a 12-month high of $33.22. The firm's 50-day moving average price is $27.13 and its 200-day moving average price is $21.00.

Surrozen (NASDAQ:SRZN - Get Free Report) last announced its earnings results on Monday, March 23rd. The company reported ($7.59) EPS for the quarter, missing analysts' consensus estimates of ($1.29) by ($6.30). The company had revenue of $0.53 million during the quarter, compared to analysts' expectations of $0.66 million. Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 7,476.67%. On average, equities analysts predict that Surrozen will post -4.04 EPS for the current fiscal year.

Insider Buying and Selling at Surrozen

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc bought 106,658 shares of the company's stock in a transaction that occurred on Tuesday, March 24th. The shares were purchased at an average cost of $24.69 per share, for a total transaction of $2,633,386.02. Following the purchase, the insider directly owned 736,554 shares in the company, valued at $18,185,518.26. This represents a 16.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 199,091 shares of company stock valued at $4,880,263. 31.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently modified their holdings of SRZN. China Universal Asset Management Co. Ltd. boosted its stake in Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company's stock worth $34,000 after purchasing an additional 500 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Surrozen in the fourth quarter worth $99,000. Marshall Wace LLP purchased a new position in shares of Surrozen during the fourth quarter worth $247,000. Ieq Capital LLC acquired a new position in Surrozen during the fourth quarter valued at $304,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Surrozen in the fourth quarter valued at $310,000. Institutional investors and hedge funds own 66.57% of the company's stock.

Surrozen Company Profile

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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