Inozyme Pharma, Inc. (NASDAQ:INZY) Sees Significant Growth in Short Interest

Inozyme Pharma, Inc. (NASDAQ:INZY) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,580,000 shares, an increase of 8.4% from the March 15th total of 2,380,000 shares. Based on an average daily trading volume, of 611,300 shares, the short-interest ratio is currently 4.2 days. Currently, 6.3% of the company’s shares are short sold.

Insider Transactions at Inozyme Pharma

In other Inozyme Pharma news, CEO Douglas A. Treco sold 7,523 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $6.94, for a total transaction of $52,209.62. Following the sale, the chief executive officer now directly owns 20,665 shares in the company, valued at $143,415.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.88% of the company’s stock.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. increased its stake in shares of Inozyme Pharma by 30.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 5,537,500 shares of the company’s stock valued at $23,258,000 after acquiring an additional 1,287,500 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Inozyme Pharma by 346.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock worth $1,310,000 after purchasing an additional 242,080 shares during the period. Laurion Capital Management LP grew its stake in Inozyme Pharma by 170.5% during the third quarter. Laurion Capital Management LP now owns 677,329 shares of the company’s stock worth $2,845,000 after buying an additional 426,961 shares during the period. Eventide Asset Management LLC purchased a new stake in Inozyme Pharma during the 3rd quarter worth $13,125,000. Finally, FMR LLC grew its stake in shares of Inozyme Pharma by 229.2% in the third quarter. FMR LLC now owns 2,465,232 shares of the company’s stock valued at $10,354,000 after buying an additional 1,716,398 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Wall Street Analysts Forecast Growth

INZY has been the topic of several recent analyst reports. Bank of America dropped their target price on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research report on Monday, April 8th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Inozyme Pharma in a research report on Wednesday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Tuesday, April 9th.

Inozyme Pharma Stock Up 3.0 %

INZY opened at $4.85 on Wednesday. The company has a market cap of $299.58 million, a price-to-earnings ratio of -3.49 and a beta of 1.37. Inozyme Pharma has a one year low of $2.69 and a one year high of $7.80. The business’s fifty day moving average is $6.04 and its two-hundred day moving average is $4.64. The company has a debt-to-equity ratio of 0.32, a quick ratio of 13.36 and a current ratio of 13.36.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Analysts anticipate that Inozyme Pharma will post -1.46 EPS for the current fiscal year.

Inozyme Pharma Company Profile

Inozyme Pharma, Inc, a clinical-stage rare disease biopharmaceutical company, focuses on developing novel therapeutics for the treatment of vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant, genetically engineered, and fusion protein for the treatment of ENPP1 and ABCC6 deficiencies, as well as patients with end-stage kidney disease receiving hemodialysis.