Surrozen (NASDAQ:SRZN) Trading Down 0.1% - Here's What Happened

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) dropped 0.1% on Wednesday . The stock traded as low as $8.31 and last traded at $8.40. Approximately 3,005 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 22,076 shares. The stock had previously closed at $8.41.

Wall Street Analyst Weigh In

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

Surrozen Stock Down 0.2%

The firm's 50-day moving average is $8.50 and its 200-day moving average is $10.18. The company has a market cap of $72.61 million, a PE ratio of -0.34 and a beta of 0.59.

Surrozen (NASDAQ:SRZN - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported ($3.13) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($2.04). The business had revenue of $0.98 million for the quarter. As a group, equities research analysts anticipate that Surrozen, Inc. will post -8.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SRZN. Geode Capital Management LLC raised its position in shares of Surrozen by 26.1% during the 4th quarter. Geode Capital Management LLC now owns 22,391 shares of the company's stock valued at $321,000 after purchasing an additional 4,630 shares during the period. Heights Capital Management Inc. purchased a new position in Surrozen during the first quarter valued at $524,000. Trustees of Columbia University in the City of New York purchased a new position in Surrozen during the fourth quarter valued at $688,000. Adage Capital Partners GP L.L.C. purchased a new position in Surrozen during the fourth quarter valued at $928,000. Finally, Stonepine Capital Management LLC grew its stake in Surrozen by 24.7% during the fourth quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company's stock valued at $1,969,000 after acquiring an additional 27,200 shares in the last quarter. 66.57% of the stock is currently owned by institutional investors.

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.