Surrozen (NASDAQ:SRZN) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Surrozen (NASDAQ:SRZN) in a report issued on Wednesday,Benzinga reports. The firm currently has a $32.00 price objective on the stock.

Separately, Guggenheim raised Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Friday, January 3rd.

Surrozen Stock Up 6.7 %

SRZN opened at $11.86 on Wednesday. Surrozen has a 1 year low of $6.00 and a 1 year high of $18.17. The firm’s fifty day moving average price is $11.34 and its two-hundred day moving average price is $11.02.

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

Insider Buying and Selling

In related news, major shareholder Group Gp Lp Column III acquired 1,034,482 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of $11.60 per share, for a total transaction of $11,999,991.20. Following the completion of the acquisition, the insider now owns 795,411 shares of the company’s stock, valued at approximately $9,226,767.60. This represents a -432.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 43.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Trustees of Columbia University in the City of New York bought a new position in Surrozen during the fourth quarter valued at $688,000. Stonepine Capital Management LLC grew its stake in shares of Surrozen by 24.7% during the 4th 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 during the period. Stempoint Capital LP grew its stake in shares of Surrozen by 91.7% during the 4th quarter. Stempoint Capital LP now owns 350,573 shares of the company’s stock worth $5,031,000 after acquiring an additional 167,655 shares during the period. Nantahala Capital Management LLC increased its holdings in Surrozen by 4.7% in the 4th quarter. Nantahala Capital Management LLC now owns 196,023 shares of the company’s stock worth $2,813,000 after acquiring an additional 8,817 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Surrozen in the 4th quarter valued at about $928,000. 66.57% of the stock is owned by institutional investors.

About Surrozen

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.