Short Interest in Surrozen, Inc. (NASDAQ:SRZN) Decreases By 16.0%

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 42,400 shares, a decline of 16.0% from the April 30th total of 50,500 shares. Based on an average trading volume of 11,900 shares, the days-to-cover ratio is presently 3.6 days. Approximately 0.9% of the company's shares are sold short.

Surrozen Stock Down 1.1%

Shares of NASDAQ:SRZN traded down $0.09 on Wednesday, reaching $8.31. The company had a trading volume of 2,689 shares, compared to its average volume of 20,913. The stock has a 50-day moving average price of $9.26 and a 200 day moving average price of $10.63. Surrozen has a twelve month low of $5.90 and a twelve month high of $18.17. The stock has a market capitalization of $71.16 million, a P/E ratio of -0.33 and a beta of 0.69.

Surrozen (NASDAQ:SRZN - Get Free Report) last posted its earnings results on Friday, May 9th. The company reported ($3.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($2.04). The company had revenue of $0.98 million for the quarter. On average, sell-side analysts predict that Surrozen will post -8.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average cost of $11.60 per share, with a total value of $11,999,991.20. Following the completion of the transaction, the insider now owns 795,411 shares of the company's stock, valued at approximately $9,226,767.60. This represents a -432.71% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 45.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Surrozen

Several hedge funds and other institutional investors have recently made changes to their positions in SRZN. Regents of The University of California bought a new stake in Surrozen during the 4th quarter valued at approximately $1,912,000. Geode Capital Management LLC grew its stake in shares of Surrozen by 26.1% in the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company's stock worth $321,000 after acquiring an additional 4,630 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Surrozen in the fourth quarter worth $928,000. Nantahala Capital Management LLC increased its position in Surrozen by 4.7% during the fourth quarter. Nantahala Capital Management LLC now owns 196,023 shares of the company's stock worth $2,813,000 after acquiring an additional 8,817 shares during the period. Finally, Stempoint Capital LP raised its stake in Surrozen by 91.7% during the 4th quarter. Stempoint Capital LP now owns 350,573 shares of the company's stock valued at $5,031,000 after purchasing an additional 167,655 shares during the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

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.