Surrozen (NASDAQ:SRZN) Shares Down 3.6% – Here’s Why

Surrozen, Inc. (NASDAQ:SRZN) was down 3.6% during mid-day trading on Monday . The stock traded as low as $11.21 and last traded at $12.00. Approximately 146,213 shares traded hands during mid-day trading, an increase of 553% from the average daily volume of 22,375 shares. The stock had previously closed at $12.45.

Analysts Set New Price Targets

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

Surrozen Trading Down 3.6 %

The business’s 50-day moving average is $11.42 and its 200-day moving average is $10.91.

Hedge Funds Weigh In On Surrozen

Several institutional investors and hedge funds have recently modified their holdings of SRZN. Stempoint Capital LP grew its position in shares of Surrozen by 91.7% during the 4th quarter. Stempoint Capital LP now owns 350,573 shares of the company’s stock valued at $5,031,000 after acquiring an additional 167,655 shares during the period. Nantahala Capital Management LLC lifted its position in shares of 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 buying an additional 8,817 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in Surrozen by 24.7% in the 4th quarter. Stonepine Capital Management LLC now owns 137,200 shares of the company’s stock worth $1,969,000 after acquiring an additional 27,200 shares in the last quarter. Regents of The University of California acquired a new position in Surrozen during the fourth quarter worth $1,912,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Surrozen in the fourth quarter valued at about $928,000. Institutional investors and hedge funds own 66.57% 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.