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

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

Inozyme Pharma Stock Performance

Shares of INZY stock remained flat at $1.36 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 52-week low of $1.32 and a 52-week high of $7.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The stock’s 50-day simple moving average is $2.75 and its 200 day simple moving average is $4.28.

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, equities analysts forecast that Inozyme Pharma will post -1.59 earnings per share for the current year.

Hedge Funds Weigh In On Inozyme Pharma

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Inozyme Pharma by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after purchasing an additional 2,690 shares during the period. Jane Street Group LLC raised its holdings in Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after purchasing an additional 3,443 shares during the period. American Century Companies Inc. raised its holdings in Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock worth $255,000 after purchasing an additional 5,673 shares during the period. OneDigital Investment Advisors LLC raised its holdings in Inozyme Pharma by 51.5% during the third quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after acquiring an additional 6,800 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Inozyme Pharma by 31.0% during the third quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after acquiring an additional 6,851 shares during the period. 88.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on INZY. HC Wainwright increased their target price on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Raymond James began coverage on Inozyme Pharma in a research note on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $12.00 target price on shares of Inozyme Pharma in a research note on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $18.33.

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.