Surrozen (NASDAQ:SRZN) Rating Increased to Buy at Guggenheim

Guggenheim upgraded shares of Surrozen (NASDAQ:SRZN) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat reports. Guggenheim currently has $45.00 price target on the stock.

Surrozen Trading Up 19.4 %

Shares of NASDAQ SRZN opened at $17.02 on Friday. The company’s 50-day simple moving average is $10.92 and its 200-day simple moving average is $9.90. Surrozen has a 52-week low of $6.00 and a 52-week high of $18.17.

Surrozen (NASDAQ:SRZN) last announced its earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.77) by $2.33. The company had revenue of $10.00 million during the quarter. Equities analysts expect that Surrozen will post -7.16 EPS for the current fiscal year.

Institutional Trading of Surrozen

Several institutional investors have recently modified their holdings of the stock. Stonepine Capital Management LLC grew its position in shares of Surrozen by 66.5% in the third quarter. Stonepine Capital Management LLC now owns 110,000 shares of the company’s stock valued at $1,318,000 after purchasing an additional 43,916 shares during the period. CVI Holdings LLC purchased a new position in shares of Surrozen in the second quarter worth about $711,000. Nantahala Capital Management LLC purchased a new position in shares of Surrozen in the second quarter worth about $2,050,000. Finally, Armistice Capital LLC purchased a new position in shares of Surrozen in the second quarter worth about $2,080,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

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.