Surrozen (NASDAQ:SRZN) Shares Down 7% – What’s Next?

Surrozen, Inc. (NASDAQ:SRZN) was down 7% on Wednesday . The stock traded as low as $8.90 and last traded at $9.20. Approximately 16,658 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 14,693 shares. The stock had previously closed at $9.89.

Surrozen Stock Down 7.4 %

The company’s fifty day simple moving average is $10.10 and its 200 day simple moving average is $9.77.

Surrozen (NASDAQ:SRZN) last released its earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.77) by $2.33. The company had revenue of $10.00 million during the quarter. On average, equities research analysts anticipate that Surrozen, Inc. will post -7.16 earnings per share for the current year.

Institutional Investors Weigh In On Surrozen

Several institutional investors and hedge funds have recently modified their holdings of the stock. CVI Holdings LLC bought a new position in Surrozen in the second quarter worth about $711,000. Stonepine Capital Management LLC bought a new position in shares of Surrozen in the 2nd quarter worth approximately $724,000. Nantahala Capital Management LLC purchased a new position in shares of Surrozen in the 2nd quarter valued at approximately $2,050,000. Finally, Armistice Capital LLC bought a new stake in shares of Surrozen during the second quarter valued at approximately $2,080,000. 66.57% of the stock is owned by hedge funds and other institutional investors.

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.