Short Interest in Surrozen, Inc. (NASDAQ:SRZN) Drops By 21.6%

Surrozen, Inc. (NASDAQ:SRZN) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 34,900 shares, a drop of 21.6% from the October 15th total of 44,500 shares. Based on an average daily volume of 18,300 shares, the short-interest ratio is currently 1.9 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SRZN. Armistice Capital LLC bought a new stake in Surrozen during the 2nd quarter valued at approximately $2,080,000. CVI Holdings LLC bought a new position in Surrozen in the second quarter worth $711,000. Nantahala Capital Management LLC purchased a new position in Surrozen during the second quarter valued at $2,050,000. Finally, Stonepine Capital Management LLC bought a new stake in shares of Surrozen during the 2nd quarter valued at $724,000. Institutional investors own 66.57% of the company’s stock.

Surrozen Price Performance

Shares of Surrozen stock traded down $0.47 during trading hours on Friday, reaching $9.01. The company had a trading volume of 4,267 shares, compared to its average volume of 14,597. Surrozen has a one year low of $5.61 and a one year high of $16.19. The business has a fifty day simple moving average of $10.10 and a 200 day simple moving average of $9.77.

Surrozen (NASDAQ:SRZN) last issued its earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.77) by $2.33. The firm had revenue of $10.00 million during the quarter. As a group, equities research analysts forecast that Surrozen will post -7.16 EPS for the current year.

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.