Surrozen (NASDAQ:SRZN) Posts Quarterly Earnings Results, Misses Estimates By $2.44 EPS

by · The Markets Daily

Surrozen (NASDAQ:SRZN – Get Free Report) released its quarterly earnings data on Friday. The company reported ($3.61) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($2.44), Zacks reports. Surrozen had a negative net margin of 274.42% and a negative return on equity of 545.43%. The business had revenue of $0.98 million during the quarter.

Surrozen Stock Performance

Shares of Surrozen stock traded down $0.30 during trading hours on Friday, reaching $12.20. The company’s stock had a trading volume of 90,404 shares, compared to its average volume of 35,518. Surrozen has a one year low of $5.90 and a one year high of $18.17. The company has a market capitalization of $104.55 million, a P/E ratio of -0.85 and a beta of 0.64. The stock’s fifty day simple moving average is $12.80 and its two-hundred day simple moving average is $10.51.

Institutional Trading of Surrozen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC purchased a new stake in Surrozen in the 2nd quarter worth about $536,000. Vanguard Group Inc. increased its stake in shares of Surrozen by 21.7% in the third quarter. Vanguard Group Inc. now owns 266,418 shares of the company’s stock worth $3,433,000 after purchasing an additional 47,468 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Surrozen by 22.6% in the second quarter. Geode Capital Management LLC now owns 30,963 shares of the company’s stock valued at $277,000 after purchasing an additional 5,702 shares during the period. 66.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Surrozen in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Surrozen presently has an average rating of “Hold” and a consensus target price of $38.50.

Check Out Our Latest Stock Report on SRZN

Surrozen Company Profile

(Get Free Report)

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.

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