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

HC Wainwright restated their buy rating on shares of Surrozen (NASDAQ:SRZN) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $32.00 price target on the stock.

Separately, Guggenheim raised shares of Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd.

Surrozen Stock Performance

Shares of SRZN stock opened at $11.86 on Wednesday. Surrozen has a twelve month low of $6.00 and a twelve month high of $18.17. The stock’s fifty day simple moving average is $11.34 and its 200 day simple moving average is $11.02.

Surrozen (NASDAQ:SRZN) last released its quarterly earnings data on Monday, March 31st. The company reported ($9.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($6.56). The firm had revenue of $0.66 million during the quarter. On average, equities analysts anticipate that Surrozen will post -8.49 EPS for the current year.

Insider Transactions at Surrozen

In other Surrozen news, major shareholder Group Gp Lp Column III acquired 1,034,482 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were bought at an average cost of $11.60 per share, with a total value of $11,999,991.20. Following the purchase, the insider now directly owns 795,411 shares of the company’s stock, valued at $9,226,767.60. This trade represents a -432.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 43.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Surrozen

A number of hedge funds have recently added to or reduced their stakes in SRZN. Geode Capital Management LLC increased its stake in shares of Surrozen by 26.1% in the 4th quarter. Geode Capital Management LLC now owns 22,391 shares of the company’s stock valued at $321,000 after acquiring an additional 4,630 shares in the last quarter. Trustees of Columbia University in the City of New York bought a new stake in Surrozen in the 4th quarter valued at about $688,000. Adage Capital Partners GP L.L.C. bought a new stake in Surrozen in the 4th quarter valued at about $928,000. Regents of The University of California acquired a new position in Surrozen during the 4th quarter worth approximately $1,912,000. Finally, Stonepine Capital Management LLC boosted its holdings in Surrozen by 24.7% in the fourth quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company’s stock worth $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.