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

Surrozen, Inc. (NASDAQ:SRZN) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 34,900 shares, a drop of 21.6% from the October 15th total of 44,500 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 18,300 shares, the short-interest ratio is presently 1.9 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Armistice Capital LLC acquired a new stake in shares of Surrozen during the second quarter valued at about $2,080,000. CVI Holdings LLC purchased a new stake in Surrozen in the second quarter valued at approximately $711,000. Nantahala Capital Management LLC acquired a new position in Surrozen during the second quarter worth $2,050,000. Finally, Stonepine Capital Management LLC acquired a new position in Surrozen during the second quarter worth $724,000. Institutional investors and hedge funds own 66.57% of the company’s stock.

Surrozen Stock Performance

Shares of Surrozen stock traded down $0.47 during mid-day trading on Friday, hitting $9.01. The stock had a trading volume of 4,367 shares, compared to its average volume of 14,597. The firm has a 50-day moving average of $10.10 and a two-hundred day moving average of $9.77. Surrozen has a 12-month low of $5.61 and a 12-month high of $16.19.

Surrozen (NASDAQ:SRZN) last posted its earnings results on Wednesday, November 6th. The company reported ($0.44) earnings per share (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, analysts expect that Surrozen will post -7.16 EPS 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.