Surrozen (NASDAQ:SRZN) Stock Price Down 3.6% – Time to Sell?

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SRZN shares. Guggenheim upgraded Surrozen from a “neutral” rating to a “buy” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. HC Wainwright initiated coverage on shares of Surrozen in a report on Thursday, January 30th. They issued a “buy” rating and a $32.00 price target for the company.

Surrozen Price Performance

The stock has a fifty day moving average price of $11.42 and a 200-day moving average price of $10.91.

Hedge Funds Weigh In On Surrozen

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Surrozen by 26.1% during the 4th quarter. Geode Capital Management LLC now owns 22,391 shares of the company’s stock worth $321,000 after acquiring an additional 4,630 shares in the last quarter. Trustees of Columbia University in the City of New York purchased a new stake in Surrozen in the fourth quarter valued at about $688,000. Adage Capital Partners GP L.L.C. acquired a new stake in Surrozen in the fourth quarter worth about $928,000. Stonepine Capital Management LLC increased its holdings in shares of Surrozen by 66.5% during the third quarter. Stonepine Capital Management LLC now owns 110,000 shares of the company’s stock valued at $1,318,000 after acquiring an additional 43,916 shares in the last quarter. Finally, Regents of The University of California acquired a new position in shares of Surrozen during the fourth quarter valued at about $1,912,000. Hedge funds and other institutional investors 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.