Surrozen (NASDAQ:SRZN) CEO Craig Parker Sells 4,524 Shares

Key Points

• Insider sale: CEO Craig Parker sold 4,524 shares on May 4 at an average price of $33.33 for proceeds of about $150,785, cutting his stake by 21.46% to 16,553 shares.
• Poor quarterly results: Surrozen reported EPS of ($7.59) versus a ($1.29) consensus, with an extremely negative net margin (7,476.67%) and negative return on equity (4,055.04%).
• Share activity and sentiment: SRZN traded up ~1.8% to $32.64 (market cap ~$375M) while analysts are mixed but average a "Moderate Buy" rating and $38.00 target, and institutional investors own about 66.6% of the stock.

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) CEO Craig Parker sold 4,524 shares of Surrozen stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.33, for a total transaction of $150,784.92. Following the sale, the chief executive officer owned 16,553 shares of the company's stock, valued at approximately $551,711.49. The trade was a 21.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Surrozen Trading Up 1.8%

NASDAQ SRZN traded up $0.57 on Tuesday, hitting $32.64. 95,295 shares of the company's stock traded hands, compared to its average volume of 113,375. Surrozen, Inc. has a 1-year low of $5.90 and a 1-year high of $35.00. The firm's 50-day moving average price is $28.15 and its two-hundred day moving average price is $21.98. The firm has a market capitalization of $375.03 million, a PE ratio of -0.98 and a beta of 0.59.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Surrozen in a research note on Tuesday, April 21st. TD Cowen assumed coverage on shares of Surrozen in a research note on Tuesday, April 21st. They issued a "buy" rating for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $40.00 target price on shares of Surrozen in a research note on Tuesday, March 24th. HC Wainwright reiterated a "buy" rating and issued a $36.00 target price (up from $32.00) on shares of Surrozen in a research note on Tuesday, March 24th. Finally, Wall Street Zen upgraded shares of Surrozen from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $38.00.

Hedge Funds Weigh In On Surrozen

A number of large investors have recently added to or reduced their stakes in SRZN. Millennium Management LLC raised its position in Surrozen by 557.1% during the fourth quarter. Millennium Management LLC now owns 721,266 shares of the company's stock worth $16,301,000 after acquiring an additional 611,497 shares during the period. Spruce Street Capital LP acquired a new position in Surrozen during the fourth quarter worth $9,764,000. Kalehua Capital Management LLC acquired a new position in Surrozen during the fourth quarter worth $8,705,000. Braidwell LP raised its position in Surrozen by 235.7% during the fourth quarter. Braidwell LP now owns 470,000 shares of the company's stock worth $10,622,000 after acquiring an additional 330,000 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in Surrozen by 169.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 190,489 shares of the company's stock worth $4,305,000 after acquiring an additional 119,757 shares during the period. 66.57% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.