Inozyme Pharma, Inc. (NASDAQ:INZY) Short Interest Update

Inozyme Pharma, Inc. (NASDAQ:INZY) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 3,660,000 shares, a decrease of 6.9% from the September 15th total of 3,930,000 shares. Based on an average daily trading volume, of 258,700 shares, the days-to-cover ratio is presently 14.1 days. Approximately 8.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of Inozyme Pharma by 154.1% during the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock worth $7,974,000 after acquiring an additional 1,084,341 shares in the last quarter. Affinity Asset Advisors LLC increased its stake in shares of Inozyme Pharma by 40.1% during the first quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock worth $20,242,000 after purchasing an additional 756,717 shares in the last quarter. Samlyn Capital LLC lifted its stake in Inozyme Pharma by 15.0% in the 2nd quarter. Samlyn Capital LLC now owns 3,350,535 shares of the company’s stock valued at $14,943,000 after buying an additional 437,622 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Inozyme Pharma by 117.6% in the second quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock valued at $1,695,000 after acquiring an additional 205,417 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in Inozyme Pharma by 52.2% in the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock valued at $3,352,000 after purchasing an additional 150,120 shares during the last quarter. 88.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INZY has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, August 6th. Stifel Nicolaus assumed coverage on shares of Inozyme Pharma in a research report on Thursday, September 12th. They set a “buy” rating and a $16.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a research report on Thursday, August 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $17.00 price target (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, Wedbush reissued an “outperform” rating and set a $15.00 target price on shares of Inozyme Pharma in a research note on Monday, September 30th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma presently has an average rating of “Buy” and a consensus price target of $16.14.

Inozyme Pharma Stock Performance

NASDAQ:INZY traded up $0.02 during midday trading on Wednesday, hitting $5.39. The company’s stock had a trading volume of 88,661 shares, compared to its average volume of 426,763. The company has a debt-to-equity ratio of 0.48, a current ratio of 9.84 and a quick ratio of 9.84. The firm’s 50 day moving average is $5.18 and its 200-day moving average is $5.02. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The firm has a market cap of $333.40 million, a P/E ratio of -3.92 and a beta of 1.51.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Equities analysts anticipate that Inozyme Pharma will post -1.68 earnings per share for the current fiscal year.

About Inozyme Pharma

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.