Surrozen (NASDAQ:SRZN) Stock Price Up 1.3% – Still a Buy?

Shares of Surrozen, Inc. (NASDAQ:SRZN) shot up 1.3% during trading on Monday . The company traded as high as $11.85 and last traded at $11.34. 4,707 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 40,346 shares. The stock had previously closed at $11.20.

Analysts Set New Price Targets

SRZN has been the topic of several research reports. Guggenheim upgraded shares of Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. HC Wainwright started coverage on Surrozen in a research note on Thursday, January 30th. They issued a “buy” rating and a $32.00 target price on the stock.

Surrozen Price Performance

The stock has a 50-day moving average of $11.84 and a two-hundred day moving average of $10.45.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of Surrozen by 26.1% in the fourth quarter. Geode Capital Management LLC now owns 22,391 shares of the company’s stock worth $321,000 after buying an additional 4,630 shares during the period. Trustees of Columbia University in the City of New York bought a new position in Surrozen during the 4th quarter worth approximately $688,000. Adage Capital Partners GP L.L.C. bought a new position in Surrozen during the 4th quarter worth approximately $928,000. Stonepine Capital Management LLC increased its stake in Surrozen by 66.5% in the 3rd quarter. Stonepine Capital Management LLC now owns 110,000 shares of the company’s stock worth $1,318,000 after purchasing an additional 43,916 shares during the period. Finally, Regents of The University of California bought a new stake in Surrozen in the fourth quarter valued at approximately $1,912,000. 66.57% of the stock is owned by hedge funds and other institutional investors.

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.