Short Interest in Surrozen, Inc. (NASDAQ:SRZN) Drops By 21.6%

Surrozen, Inc. (NASDAQ:SRZN) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 34,900 shares, a decline of 21.6% from the October 15th total of 44,500 shares. Based on an average daily trading volume, of 18,300 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Surrozen

A number of institutional investors have recently added to or reduced their stakes in the stock. Stonepine Capital Management LLC lifted its holdings in 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 purchasing an additional 43,916 shares in the last quarter. CVI Holdings LLC acquired a new stake in Surrozen in the 2nd quarter worth about $711,000. Nantahala Capital Management LLC purchased a new stake in Surrozen during the 2nd quarter worth approximately $2,050,000. Finally, Armistice Capital LLC acquired a new position in shares of Surrozen during the second quarter valued at approximately $2,080,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Surrozen Stock Down 4.9 %

SRZN traded down $0.47 on Friday, reaching $9.01. The stock had a trading volume of 4,367 shares, compared to its average volume of 14,597. Surrozen has a 12-month low of $5.61 and a 12-month high of $16.19. The business’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $9.77.

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

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.