Surrozen (NASDAQ:SRZN) Posts Earnings Results, Misses Expectations By $6.56 EPS

Surrozen (NASDAQ:SRZN) issued its quarterly earnings data on Monday. The company reported ($9.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($6.56), Zacks reports. The company had revenue of $0.66 million for the quarter.

Surrozen Stock Down 4.6 %

Shares of SRZN stock opened at $11.12 on Wednesday. Surrozen has a 12 month low of $6.00 and a 12 month high of $18.17. The company has a 50 day simple moving average of $11.33 and a two-hundred day simple moving average of $11.02.

Analyst Ratings Changes

A number of brokerages have weighed in on SRZN. HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of Surrozen in a research note on Wednesday. Guggenheim raised Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd.

Insider Activity

In related news, major shareholder Group Gp Lp Column III acquired 1,034,482 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of $11.60 per share, with a total value of $11,999,991.20. Following the transaction, the insider now directly owns 795,411 shares in the company, valued at approximately $9,226,767.60. This represents a -432.71 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 43.50% of the company’s stock.

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.