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

Inozyme Pharma, Inc. (NASDAQ:INZY) saw a large increase in short interest in 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 trading volume, of 545,100 shares, the days-to-cover ratio is currently 6.8 days. Currently, 8.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of INZY. Deerfield Management Company L.P. Series C bought a new stake in Inozyme Pharma in the 2nd quarter valued at approximately $52,000. Virtu Financial LLC acquired a new stake in shares of Inozyme Pharma in the third quarter valued at approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of Inozyme Pharma in the third quarter valued at approximately $81,000. Cubist Systematic Strategies LLC bought a new stake in shares of Inozyme Pharma in the second quarter worth $84,000. Finally, Readystate Asset Management LP acquired a new position in Inozyme Pharma during the third quarter worth $100,000. 88.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on INZY shares. HC Wainwright upped their target price on shares of Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research report 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 initiated coverage on Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price for the company. Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Inozyme Pharma in a research note on Friday, January 10th. Finally, Piper Sandler decreased their price objective on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma has an average rating of “Buy” and an average target price of $18.33.

Inozyme Pharma Price Performance

INZY remained flat at $1.36 during trading on Friday. 1,359,588 shares of the company’s stock were exchanged, compared to its average volume of 431,124. The stock has a market capitalization of $87.37 million, a P/E ratio of -0.87 and a beta of 1.35. Inozyme Pharma has a 1 year low of $1.32 and a 1 year high of $7.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The company’s 50 day moving average price is $2.75 and its two-hundred day moving average price is $4.28.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. As a group, sell-side analysts predict that Inozyme Pharma will post -1.59 EPS for the current fiscal year.

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.