Surrozen (NASDAQ:SRZN) Trading Down 2.7% – Should You Sell?

Surrozen, Inc. (NASDAQ:SRZN)’s share price dropped 2.7% during trading on Friday . The stock traded as low as $23.43 and last traded at $25.21. Approximately 164,020 shares changed hands during trading, an increase of 116% from the average daily volume of 75,959 shares. The stock had previously closed at $25.90.

Wall Street Analysts Forecast Growth

SRZN has been the topic of several recent research reports. Cantor Fitzgerald began coverage on shares of Surrozen in a research report on Thursday, February 19th. They issued an “overweight” rating and a $40.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Surrozen in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Surrozen to a “sell” rating in a research report on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Surrozen Price Performance

The firm’s fifty day moving average is $23.34 and its two-hundred day moving average is $18.01. The firm has a market cap of $216.05 million, a price-to-earnings ratio of -1.13 and a beta of 0.53.

Insider Transactions at Surrozen

In other news, major shareholder Group Gp Lp Column III bought 18,052 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was purchased at an average cost of $19.60 per share, for a total transaction of $353,819.20. Following the completion of the transaction, the insider directly owned 1,016,658 shares of the company’s stock, valued at approximately $19,926,496.80. This trade represents a 1.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tcg Crossover Gp Ii, Llc purchased 1,093 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were purchased at an average cost of $23.86 per share, with a total value of $26,078.98. Following the completion of the purchase, the insider owned 651,114 shares in the company, valued at $15,535,580.04. This represents a 0.17% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders purchased 159,413 shares of company stock valued at $3,245,809. Company insiders own 45.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in Surrozen by 557.1% in the 4th quarter. Millennium Management LLC now owns 721,266 shares of the company’s stock valued at $16,301,000 after acquiring an additional 611,497 shares during the last quarter. Stempoint Capital LP grew its stake in shares of Surrozen by 185.1% in the 2nd quarter. Stempoint Capital LP now owns 686,539 shares of the company’s stock worth $6,138,000 after purchasing an additional 445,713 shares during the last quarter. Braidwell LP grew its stake in shares of Surrozen by 235.7% in the 4th quarter. Braidwell LP now owns 470,000 shares of the company’s stock worth $10,622,000 after purchasing an additional 330,000 shares during the last quarter. Spruce Street Capital LP bought a new stake in shares of Surrozen in the 4th quarter worth approximately $9,764,000. Finally, 5AM Venture Management LLC raised its holdings in shares of Surrozen by 25.0% in the 4th quarter. 5AM Venture Management LLC now owns 387,500 shares of the company’s stock worth $8,758,000 after purchasing an additional 77,500 shares in the last quarter. 66.57% of the stock is owned by institutional investors and hedge funds.

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.