Inozyme Pharma (NASDAQ:INZY) Earns Outperform Rating from Wedbush

Inozyme Pharma (NASDAQ:INZY)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research note issued on Tuesday, RTT News reports. They presently have a $15.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 226.09% from the stock’s current price.

Several other research analysts have also recently weighed in on INZY. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Inozyme Pharma in a research report on Wednesday, March 13th. Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Tuesday, April 9th. Finally, Bank of America dropped their price target on shares of Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th.

Inozyme Pharma Stock Performance

NASDAQ INZY traded down $0.28 on Tuesday, hitting $4.60. 558,167 shares of the company’s stock traded hands, compared to its average volume of 608,330. The firm’s 50-day moving average price is $5.71 and its two-hundred day moving average price is $4.74. The firm has a market capitalization of $284.56 million, a PE ratio of -3.31 and a beta of 1.54. The company has a current ratio of 13.36, a quick ratio of 13.36 and a debt-to-equity ratio of 0.32. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, March 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). As a group, analysts expect that Inozyme Pharma will post -1.46 EPS for the current year.

Insiders Place Their Bets

In other Inozyme Pharma news, CEO Douglas A. Treco sold 7,523 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $6.94, for a total transaction of $52,209.62. Following the completion of the transaction, the chief executive officer now owns 20,665 shares of the company’s stock, valued at $143,415.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.88% of the stock is currently owned by company insiders.

Institutional Trading of Inozyme Pharma

Large investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Inozyme Pharma during the 3rd quarter valued at approximately $41,000. Values First Advisors Inc. acquired a new stake in shares of Inozyme Pharma in the fourth quarter valued at $59,000. SG Americas Securities LLC acquired a new position in Inozyme Pharma during the 3rd quarter worth $61,000. Superstring Capital Management LP acquired a new position in shares of Inozyme Pharma during the fourth quarter worth about $528,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Inozyme Pharma by 346.8% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 311,880 shares of the company’s stock worth $1,310,000 after acquiring an additional 242,080 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

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.