Cantor Fitzgerald Initiates Coverage on Surrozen (NASDAQ:SRZN)

Investment analysts at Cantor Fitzgerald began coverage on shares of Surrozen (NASDAQ:SRZN) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $40.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 50.43% from the stock’s previous close.

SRZN has been the topic of a number of other research reports. Wall Street Zen upgraded Surrozen to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Surrozen in a research note on Thursday, January 22nd. Finally, Lifesci Capital upgraded shares of Surrozen to a “strong-buy” rating in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Surrozen Price Performance

Shares of SRZN opened at $26.59 on Thursday. The company has a market capitalization of $227.88 million, a price-to-earnings ratio of -1.19 and a beta of 0.58. The business’s 50-day moving average is $21.84 and its 200-day moving average is $16.29. Surrozen has a fifty-two week low of $5.90 and a fifty-two week high of $27.96.

Insider Activity

In other Surrozen news, major shareholder Tcg Crossover Gp Ii, Llc acquired 1,093 shares of Surrozen stock in a transaction dated Thursday, February 12th. The stock was bought at an average cost of $23.86 per share, with a total value of $26,078.98. Following the completion of the transaction, the insider owned 651,114 shares of the company’s stock, valued at $15,535,580.04. The trade was a 0.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Group Gp Lp Column III bought 18,052 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were bought at an average price of $19.60 per share, with a total value of $353,819.20. Following the completion of the purchase, the insider owned 1,016,658 shares in the company, valued at approximately $19,926,496.80. The trade was a 1.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 231,713 shares of company stock valued at $4,635,485. 45.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Surrozen

Institutional investors and hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in shares of Surrozen by 50.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Surrozen in the fourth quarter worth about $99,000. Marshall Wace LLP acquired a new position in Surrozen in the fourth quarter worth about $247,000. Ieq Capital LLC bought a new stake in shares of Surrozen in the 4th quarter valued at approximately $304,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Surrozen in the 4th quarter valued at approximately $310,000. Institutional investors own 66.57% of the company’s stock.

About Surrozen

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.