Brokerages Set Surrozen, Inc. (NASDAQ:SRZN) Target Price at $38.00

Surrozen, Inc. (NASDAQ:SRZN) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.00.

A number of brokerages have recently weighed in on SRZN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $40.00 price target on shares of Surrozen in a report on Tuesday, March 24th. TD Cowen initiated coverage on shares of Surrozen in a report on Tuesday. They set a “buy” rating for the company. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective (up from $32.00) on shares of Surrozen in a research note on Tuesday, March 24th. Wall Street Zen raised shares of Surrozen from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a research note on Tuesday.

Insider Buying and Selling

In related news, major shareholder Tcg Crossover Gp Ii, Llc acquired 106,658 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average price of $24.69 per share, with a total value of $2,633,386.02. Following the purchase, the insider directly owned 736,554 shares in the company, valued at approximately $18,185,518.26. This trade represents a 16.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 199,091 shares of company stock valued at $4,880,263. 31.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Surrozen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Surrozen by 82.5% during the fourth quarter. State Street Corp now owns 24,326 shares of the company’s stock worth $550,000 after buying an additional 11,000 shares during the period. Armistice Capital LLC acquired a new stake in shares of Surrozen during the second quarter worth $536,000. Renaissance Technologies LLC increased its position in shares of Surrozen by 53.6% during the fourth quarter. Renaissance Technologies LLC now owns 22,626 shares of the company’s stock worth $511,000 after buying an additional 7,900 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Surrozen during the fourth quarter worth $335,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Surrozen during the fourth quarter worth $310,000. 66.57% of the stock is currently owned by institutional investors and hedge funds.

Surrozen Trading Down 7.2%

Shares of Surrozen stock opened at $30.64 on Tuesday. The company has a 50 day moving average of $27.58 and a 200-day moving average of $21.27. Surrozen has a 1-year low of $5.90 and a 1-year high of $33.96. The company has a market cap of $352.05 million, a PE ratio of -0.92 and a beta of 0.52.

Surrozen (NASDAQ:SRZN) last issued its quarterly earnings results on Monday, March 23rd. The company reported ($7.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.29) by ($6.30). Surrozen had a negative return on equity of 4,055.04% and a negative net margin of 7,476.67%.The firm had revenue of $0.53 million for the quarter, compared to the consensus estimate of $0.66 million. Research analysts forecast that Surrozen will post -4.04 earnings per share for the current year.

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.