Surrozen's (SRZN) Buy Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed a "buy" rating on Surrozen and raised its price target to $36 (from $32), implying about a 42.6% upside; MarketBeat data shows a consensus "Moderate Buy" with a $38 average target.
• Surrozen posted a massive quarterly EPS miss, reporting ($23.88) vs. analysts' ($1.29) estimate, with revenue of $0.53M and very negative margins; analysts project a -8.49 EPS for the current year.
• Insiders have been buying recently—major shareholder and a director each purchased 18,052 shares at $19.60—and insiders now own about 43.5% of the company, with insider buys totaling ~208,410 shares (~$4.47M) in the past three months.

Surrozen (NASDAQ:SRZN - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $36.00 price objective on the stock, up from their previous price objective of $32.00. HC Wainwright's price objective would indicate a potential upside of 42.63% from the stock's previous close.

SRZN has been the subject of several other research reports. Cantor Fitzgerald initiated coverage on Surrozen in a report on Thursday, February 19th. They issued an "overweight" rating and a $40.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Surrozen in a research report on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Surrozen to a "sell" rating in a report on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Surrozen Stock Up 0.4%

SRZN stock opened at $25.24 on Tuesday. The company has a market capitalization of $216.31 million, a P/E ratio of -1.13 and a beta of 0.53. The company has a 50-day simple moving average of $24.13 and a 200 day simple moving average of $18.67. Surrozen has a fifty-two week low of $5.90 and a fifty-two week high of $29.59.

Surrozen (NASDAQ:SRZN - Get Free Report) last issued its quarterly earnings results on Monday, March 23rd. The company reported ($23.88) earnings per share for the quarter, missing analysts' consensus estimates of ($1.29) by ($22.59). Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 2,909.10%.The company had revenue of $0.53 million during the quarter, compared to analyst estimates of $0.66 million. Equities analysts anticipate that Surrozen will post -8.49 EPS for the current year.

Insider Buying and Selling at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III purchased 18,052 shares of the stock in a transaction dated Tuesday, January 20th. The shares were acquired at an average price of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the acquisition, the insider owned 1,016,658 shares of the company's stock, valued at $19,926,496.80. This represents a 1.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tim Kutzkey purchased 18,052 shares of the company's stock in a transaction that occurred on Tuesday, January 20th. The shares were acquired at an average cost of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the transaction, the director directly owned 1,016,658 shares of the company's stock, valued at $19,926,496.80. This trade represents a 1.81% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 208,410 shares of company stock valued at $4,466,346 in the last three months. 43.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Surrozen

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Surrozen by 50.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company's stock worth $34,000 after purchasing an additional 500 shares during the period. Citadel Advisors LLC lifted its position in Surrozen by 32.8% in the 3rd quarter. Citadel Advisors LLC now owns 13,875 shares of the company's stock worth $179,000 after buying an additional 3,424 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Surrozen during the 4th quarter valued at $99,000. Schonfeld Strategic Advisors LLC boosted its stake in shares of Surrozen by 8.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 74,645 shares of the company's stock valued at $1,687,000 after buying an additional 5,621 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Surrozen by 22.6% during the 2nd quarter. Geode Capital Management LLC now owns 30,963 shares of the company's stock valued at $277,000 after acquiring an additional 5,702 shares in the last quarter. Institutional investors and hedge funds own 66.57% of the company's stock.

Surrozen Company Profile

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.

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