Inozyme Pharma (NASDAQ:INZY) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Inozyme Pharma (NASDAQ:INZYFree Report) in a research note released on Thursday morning, MarketBeat Ratings reports. The firm issued an overweight rating and a $14.00 price target on the stock.

A number of other analysts also recently weighed in on the company. HC Wainwright restated a buy rating and issued a $16.00 price objective on shares of Inozyme Pharma in a report on Wednesday, March 13th. Bank of America cut their price objective on Inozyme Pharma from $16.00 to $14.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. Wedbush reissued an outperform rating and set a $15.00 target price on shares of Inozyme Pharma in a research report on Tuesday, May 7th. Finally, Needham & Company LLC restated a buy rating and set a $23.00 price target on shares of Inozyme Pharma in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $16.40.

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Inozyme Pharma Price Performance

Shares of INZY opened at $4.82 on Thursday. The company has a quick ratio of 14.05, a current ratio of 14.05 and a debt-to-equity ratio of 0.38. The stock has a market cap of $298.17 million, a PE ratio of -3.52 and a beta of 1.54. Inozyme Pharma has a 12-month low of $2.69 and a 12-month high of $7.80. The business has a 50-day simple moving average of $5.16 and a two-hundred day simple moving average of $4.95.

Inozyme Pharma (NASDAQ:INZYGet Free Report) last posted its earnings results on Tuesday, May 7th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). Analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inozyme Pharma news, CEO Douglas A. Treco sold 7,523 shares of Inozyme Pharma stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $6.94, for a total value of $52,209.62. Following the completion of 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 filing with the SEC, which is available at the SEC website. 11.19% of the stock is currently owned by insiders.

Institutional Trading of Inozyme Pharma

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

About Inozyme Pharma

(Get Free Report)

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.

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Analyst Recommendations for Inozyme Pharma (NASDAQ:INZY)

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