Surrozen (NASDAQ:SRZN) Stock Price Down 12.8% - Should You Sell?

Key Points

• Surrozen, Inc. (NASDAQ:SRZN) experienced a 12.8% drop in stock price, closing at $9.03, with trading volume down by 25% compared to its average.
• Despite the decline, analyst firm HC Wainwright reaffirmed a "buy" rating for Surrozen with a price target of $32.00.
• The company's latest earnings report showed a significant earnings miss, with a reported EPS of -$3.13, compared to an expected -$1.09.

Surrozen, Inc. (NASDAQ:SRZN - Get Free Report) traded down 12.8% on Thursday . The company traded as low as $9.03 and last traded at $9.03. 8,460 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 11,261 shares. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

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

Surrozen Price Performance

The business's 50 day simple moving average is $9.01 and its 200 day simple moving average is $9.89. The company has a market capitalization of $77.32 million, a price-to-earnings ratio of -0.36 and a beta of 0.60.

Surrozen (NASDAQ:SRZN - Get Free Report) last released its quarterly 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 during the quarter. As a group, analysts expect that Surrozen, Inc. will post -8.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Surrozen by 26.1% during the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company's stock worth $321,000 after purchasing an additional 4,630 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in Surrozen in the 4th quarter valued at $928,000. Nantahala Capital Management LLC lifted its stake in shares of Surrozen by 4.7% in the 4th 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. Stempoint Capital LP boosted its holdings in shares of Surrozen by 91.7% in the fourth quarter. Stempoint Capital LP now owns 350,573 shares of the company's stock valued at $5,031,000 after acquiring an additional 167,655 shares in the last quarter. Finally, Stonepine Capital Management LLC boosted its holdings in shares of Surrozen by 24.7% in 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 hedge funds and other 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.

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