Surrozen, Inc. (NASDAQ:SRZN – Get Rating) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 227,300 shares, a decline of 18.7% from the December 31st total of 279,700 shares. Based on an average trading volume of 812,000 shares, the short-interest ratio is presently 0.3 days. Approximately 1.2% of the company's shares are sold short.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Guggenheim cut shares of Surrozen from a "buy" rating to a "neutral" rating in a report on Friday, November 18th. Bank of America cut shares of Surrozen from a "neutral" rating to an "underperform" rating in a report on Wednesday, November 16th. Finally, JPMorgan Chase & Co. cut shares of Surrozen from a "neutral" rating to an "underweight" rating in a report on Tuesday, November 29th.
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Surrozen Price Performance
SRZN opened at $0.72 on Monday. The stock has a 50-day moving average price of $0.60 and a 200-day moving average price of $1.82. The firm has a market cap of $25.29 million, a PE ratio of -0.53 and a beta of -0.24. Surrozen has a 1 year low of $0.34 and a 1 year high of $3.97.
Surrozen (NASDAQ:SRZN – Get Rating) last posted its quarterly earnings results on Monday, November 14th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.05. As a group, sell-side analysts anticipate that Surrozen will post -1.46 EPS for the current year.
Hedge Funds Weigh In On Surrozen
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Surrozen by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 487,278 shares of the company's stock worth $984,000 after buying an additional 15,299 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University raised its position in Surrozen by 3,102.9% in the 3rd quarter. Board of Trustees of The Leland Stanford Junior University now owns 781,960 shares of the company's stock worth $1,580,000 after buying an additional 757,546 shares during the last quarter. FMR LLC purchased a new position in Surrozen in the 2nd quarter worth about $744,000. Finally, Bank of Montreal Can purchased a new position in Surrozen in the 1st quarter worth about $377,000. Hedge funds and other institutional investors own 62.13% of the company's stock.
Surrozen Company Profile
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Surrozen, Inc, a biotechnology company, discovers and develops drug candidates to selectively modulate the Wnt pathway for tissue repair and regeneration. It is developing tissue-specific antibodies with application across various disease areas, including diseases of the intestine, liver, retina, cornea, lung, kidney, cochlea, skin, pancreas, and central nervous system.
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