Surrozen Inc. [NASDAQ: SRZN] gained 7.91% or 0.04 points to close at $0.63 with a heavy trading volume of 2571188 shares. The company report on November 14, 2022 that Surrozen Reports Third Quarter 2022 Financial Results and Provides Corporate Update.
SZN-1326 UpdateSurrozen announced today that it voluntarily paused enrollment in the single ascending dose (SAD) portion of the Company’s Phase 1 clinical trial evaluating SZN-1326 in healthy volunteers following the observation of treatment-related adverse events. Several subjects experienced asymptomatic liver transaminase elevations, including three subjects with grade 3 ALT and AST elevations. There were no corresponding increases in total bilirubin nor any changes in liver function markers such as coagulation markers or albumin. No other clinically significant laboratory abnormalities were observed, and the transaminase elevations resolved spontaneously in all subjects. No serious adverse events were observed during the study. SZN-1326 is a Wnt mimetic bi-specific antibody that selectively activates the Wnt pathway and is in development for treatment of patients with ulcerative colitis.
It opened the trading session at $0.57, the shares rose to $0.69 and dropped to $0.57, the range by which the price of stock traded the whole day. The daily chart for SRZN points out that the company has recorded -80.92% loss over the past six months. However, it is still -85.29% lower than its most recent low trading price.
If we look at the average trading volume of 576.34K shares, SRZN reached to a volume of 2571188 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Surrozen Inc. [SRZN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SRZN shares is $2.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SRZN stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Surrozen Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 11, 2021. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on September 15, 2021, representing the official price target for Surrozen Inc. stock. Previously, the target price had yet another raise to $19, while Stifel analysts kept a Buy rating on SRZN stock.
The Average True Range (ATR) for Surrozen Inc. is set at 0.12 The Price to Book ratio for the last quarter was 0.29, with the Price to Cash per share for the same quarter was set at 2.60.
Trading performance analysis for SRZN stock
Surrozen Inc. [SRZN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.35. With this latest performance, SRZN shares dropped by -20.84% in over the last four-week period, additionally sinking by -80.92% over the last 6 months – not to mention a drop of -90.90% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SRZN stock in for the last two-week period is set at 42.44, with the RSI for the last a single of trading hit 58.87, and the three-weeks RSI is set at 36.15 for Surrozen Inc. [SRZN]. The present Moving Average for the last 50 days of trading for this stock 1.2497, while it was recorded at 0.5472 for the last single week of trading, and 2.3909 for the last 200 days.
Surrozen Inc. [SRZN]: A deeper dive into fundamental analysis
Surrozen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.60 and a Current Ratio set at 9.60.
Surrozen Inc. [SRZN]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SRZN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Surrozen Inc. go to 29.90%.
An analysis of insider ownership at Surrozen Inc. [SRZN]
There are presently around $14 million, or 70.10% of SRZN stock, in the hands of institutional investors. The top three institutional holders of SRZN stocks are: COLUMN GROUP LLC with ownership of 9,248,129, which is approximately 0% of the company’s market cap and around 6.88% of the total institutional ownership; CONSONANCE CAPITAL MANAGEMENT LP, holding 3,497,500 shares of the stock with an approximate value of $2.21 million in SRZN stocks shares; and BAKER BROS. ADVISORS LP, currently with $1.58 million in SRZN stock with ownership of nearly 0% of the company’s market capitalization.
Positions in Surrozen Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 7 institutional holders increased their position in Surrozen Inc. [NASDAQ:SRZN] by around 779,588 shares. Additionally, 5 investors decreased positions by around 62,350 shares, while 17 investors held positions by with 20,978,342 shares. The mentioned changes placed institutional holdings at 21,820,280 shares, according to the latest SEC report filing. SRZN stock had 4 new institutional investments in for a total of 6,379 shares, while 2 institutional investors sold positions of 6,022 shares during the same period.