Surrozen (NASDAQ:SRZN) Shares Down 1.4% – What’s Next?

Shares of Surrozen, Inc. (NASDAQ:SRZN) were down 1.4% during mid-day trading on Tuesday . The company traded as low as $8.84 and last traded at $8.89. Approximately 8,982 shares traded hands during trading, a decline of 58% from the average daily volume of 21,600 shares. The stock had previously closed at $9.02.

Analyst Upgrades and Downgrades

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

Surrozen Stock Performance

The company’s fifty day moving average price is $8.95 and its 200-day moving average price is $10.53. The stock has a market cap of $76.13 million, a P/E ratio of -0.36 and a beta of 0.58.

Surrozen (NASDAQ:SRZN) last announced its quarterly earnings data on Friday, May 9th. The company reported ($3.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($2.04). The business had revenue of $0.98 million for the quarter. Analysts anticipate that Surrozen, Inc. will post -8.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Surrozen

Several hedge funds have recently bought and sold shares of SRZN. Geode Capital Management LLC increased its position in 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. bought a new position in shares of Surrozen during the first quarter valued at approximately $524,000. Trustees of Columbia University in the City of New York purchased a new position in Surrozen during the fourth quarter valued at approximately $688,000. Adage Capital Partners GP L.L.C. purchased a new position in Surrozen during the fourth quarter valued at approximately $928,000. Finally, Regents of The University of California bought a new position in Surrozen in the fourth quarter worth approximately $1,912,000. Institutional investors own 66.57% of the company’s stock.

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.