Surrozen’s (SRZN) Buy Rating Reaffirmed at HC Wainwright

Surrozen (NASDAQ:SRZN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $32.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 344.44% from the company’s previous close.

Surrozen Price Performance

Shares of NASDAQ:SRZN opened at $7.20 on Monday. The business’s 50-day moving average is $10.38 and its 200 day moving average is $10.91. Surrozen has a 1 year low of $6.00 and a 1 year high of $18.17. The firm has a market capitalization of $23.62 million, a P/E ratio of -0.29 and a beta of 0.69.

Surrozen (NASDAQ:SRZN) last released its earnings results on Friday, May 9th. The company reported ($3.13) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($2.04). The company had revenue of $0.98 million for the quarter. On average, analysts expect that Surrozen will post -8.49 EPS for the current year.

Insider Activity

In other news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of the stock in a transaction on Wednesday, March 26th. The stock was bought at an average price of $11.60 per share, with a total value of $11,999,991.20. Following the transaction, the insider now owns 795,411 shares in the company, valued at $9,226,767.60. The trade was a -432.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 45.18% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRZN. Stempoint Capital LP boosted its position in Surrozen by 91.7% in the fourth quarter. Stempoint Capital LP now owns 350,573 shares of the company’s stock valued at $5,031,000 after buying an additional 167,655 shares during the last quarter. Vivo Capital LLC purchased a new position in Surrozen during the 1st quarter worth approximately $3,032,000. Nantahala Capital Management LLC lifted its stake in Surrozen by 4.7% during the 4th quarter. Nantahala Capital Management LLC now owns 196,023 shares of the company’s stock valued at $2,813,000 after acquiring an additional 8,817 shares during the period. Stonepine Capital Management LLC boosted its holdings in shares of Surrozen by 24.7% in the 4th quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company’s stock valued at $1,969,000 after acquiring an additional 27,200 shares during the last quarter. Finally, Regents of The University of California acquired a new stake in shares of Surrozen in the fourth quarter worth $1,912,000. 66.57% of the stock is currently owned by hedge funds and other institutional investors.

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.