Surrozen (NASDAQ:SRZN) Announces Earnings Results

Surrozen (NASDAQ:SRZN) announced its quarterly earnings data on Monday. The company reported ($9.10) earnings per share for the quarter, missing the consensus estimate of ($2.54) by ($6.56), Zacks reports.

Surrozen Price Performance

Shares of NASDAQ:SRZN traded up $0.65 on Monday, hitting $11.66. 13,564 shares of the company traded hands, compared to its average volume of 22,320. The stock has a 50 day simple moving average of $11.37 and a 200-day simple moving average of $10.98. Surrozen has a 52 week low of $6.00 and a 52 week high of $18.17.

Insider Activity

In related news, major shareholder Group Gp Lp Column III purchased 1,034,482 shares of Surrozen stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of $11.60 per share, for a total transaction of $11,999,991.20. Following the completion of the purchase, the insider now directly owns 795,411 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Corporate insiders own 43.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SRZN shares. HC Wainwright initiated coverage on shares of Surrozen in a report on Thursday, January 30th. They issued a “buy” rating and a $32.00 price target on the stock. Guggenheim raised Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd.

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.