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

Inozyme Pharma, Inc. (NASDAQ:INZY) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 3,700,000 shares, a growth of 11.4% from the December 15th total of 3,320,000 shares. Currently, 8.4% of the shares of the stock are sold short. Based on an average daily volume of 545,100 shares, the days-to-cover ratio is presently 6.8 days.

Wall Street Analyst Weigh In

INZY has been the subject of a number of research reports. Piper Sandler cut their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 13th. HC Wainwright increased their target price on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 10th. Raymond James started coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $18.33.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY remained flat at $1.36 during trading on Friday. The stock had a trading volume of 1,359,588 shares, compared to its average volume of 431,124. Inozyme Pharma has a 12-month low of $1.32 and a 12-month high of $7.80. The company has a 50 day moving average of $2.75 and a two-hundred day moving average of $4.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68.

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. As a group, equities research analysts anticipate that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its position in Inozyme Pharma by 154.1% during the 2nd quarter. Millennium Management LLC now owns 1,787,947 shares of the company’s stock valued at $7,974,000 after buying an additional 1,084,341 shares in the last quarter. Samlyn Capital LLC increased its position in Inozyme Pharma by 15.0% during 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. Affinity Asset Advisors LLC increased its position in Inozyme Pharma by 8.1% during the 2nd quarter. Affinity Asset Advisors LLC now owns 2,856,252 shares of the company’s stock valued at $12,739,000 after buying an additional 213,733 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Inozyme Pharma by 117.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock valued at $1,695,000 after buying an additional 205,417 shares in the last quarter. Finally, Eventide Asset Management LLC increased its position in Inozyme Pharma by 5.0% during the 3rd quarter. Eventide Asset Management LLC now owns 4,134,436 shares of the company’s stock valued at $21,623,000 after buying an additional 198,216 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

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.