Surrozen (NASDAQ:SRZN) Shares Down 7% – Here’s What Happened

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

Surrozen Trading Down 7.4 %

The company has a fifty day moving average price of $10.10 and a 200 day moving average price of $9.77.

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

Hedge Funds Weigh In On Surrozen

Several large investors have recently bought and sold shares of SRZN. Armistice Capital LLC bought a new position in shares of Surrozen during the second quarter valued at about $2,080,000. Nantahala Capital Management LLC purchased a new position in Surrozen in the second quarter worth $2,050,000. Stonepine Capital Management LLC increased its position in shares of Surrozen by 66.5% during the 3rd 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 during the last quarter. Finally, CVI Holdings LLC bought a new stake in shares of Surrozen during the 2nd quarter worth $711,000. 66.57% of the stock is currently owned by 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.