Surrozen (NASDAQ:SRZN) Issues Earnings Results

Key Points

• Surrozen (NASDAQ:SRZN) reported earnings of ($1.14) per share, exceeding analysts' estimates of ($1.23) by $0.09, with a quarterly revenue of $0.98 million.
• Following the earnings announcement, Surrozen's stock rose by 5.9% on Friday, currently priced at $9.56, with a market cap of $81.83 million.
• HC Wainwright maintains a "buy" rating on Surrozen, setting a target price of $32.00, while Geode Capital Management increased its stake in the company by 22.6% in the second quarter.

Surrozen (NASDAQ:SRZN - Get Free Report) posted its earnings results on Friday. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.23) by $0.09, Zacks reports. The business had revenue of $0.98 million during the quarter.

Surrozen Stock Up 5.9%

NASDAQ:SRZN opened at $9.56 on Friday. Surrozen has a 12 month low of $5.90 and a 12 month high of $18.17. The firm has a market cap of $81.83 million, a price-to-earnings ratio of -0.66 and a beta of 0.60. The company's 50 day moving average is $9.03 and its 200-day moving average is $9.86.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Surrozen

A hedge fund recently raised its stake in Surrozen stock. Geode Capital Management LLC grew its position in Surrozen, Inc. (NASDAQ:SRZN - Free Report) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,963 shares of the company's stock after purchasing an additional 5,702 shares during the quarter. Geode Capital Management LLC owned approximately 0.36% of Surrozen worth $277,000 as of its most recent SEC filing. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

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