Inozyme Pharma, Inc. (NASDAQ:INZY) Short Interest Up 11.4% in December

Inozyme Pharma, Inc. (NASDAQ:INZY) saw 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. Based on an average trading volume of 545,100 shares, the short-interest ratio is presently 6.8 days. Currently, 8.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Inozyme Pharma by 14.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after acquiring an additional 2,690 shares during the period. Jane Street Group LLC raised its stake in shares of Inozyme Pharma by 7.5% during the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after acquiring an additional 3,443 shares in the last quarter. American Century Companies Inc. lifted its stake in Inozyme Pharma by 11.0% in the second 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 last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Inozyme Pharma by 51.5% in the 3rd 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 last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of 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 purchasing an additional 6,851 shares during the period. Institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Price Performance

Shares of NASDAQ INZY opened at $1.36 on Monday. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $87.37 million, a PE ratio of -0.87 and a beta of 1.35. The stock’s 50 day moving average price is $2.75 and its 200-day moving average price is $4.28. Inozyme Pharma has a twelve month low of $1.32 and a twelve month high of $7.80.

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

Analyst Upgrades and Downgrades

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

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.