Inozyme Pharma, Inc. (NASDAQ:INZY) Sees Large Growth in Short Interest

Inozyme Pharma, Inc. (NASDAQ:INZY) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 4,130,000 shares, a growth of 51.3% from the June 15th total of 2,730,000 shares. Based on an average daily volume of 468,600 shares, the short-interest ratio is currently 8.8 days. Currently, 9.9% of the company’s stock are sold short.

Inozyme Pharma Stock Up 3.1 %

Shares of NASDAQ:INZY traded up $0.16 during trading on Monday, hitting $5.31. 108,755 shares of the company were exchanged, compared to its average volume of 513,300. The stock has a market cap of $328.46 million, a price-to-earnings ratio of -3.88 and a beta of 1.53. Inozyme Pharma has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The firm has a fifty day moving average price of $4.63 and a two-hundred day moving average price of $5.11. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.38.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.03). As a group, research analysts anticipate that Inozyme Pharma will post -1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $15.00 price objective on shares of Inozyme Pharma in a report on Tuesday, July 2nd. Bank of America dropped their target price on Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Wells Fargo & Company initiated coverage on Inozyme Pharma in a research report on Thursday, May 30th. They issued an “overweight” rating and a $14.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Inozyme Pharma in a research report on Tuesday, July 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, May 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Values First Advisors Inc. bought a new position in shares of Inozyme Pharma during the 4th quarter worth approximately $59,000. SG Americas Securities LLC boosted its stake in shares of Inozyme Pharma by 46.9% during the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock worth $90,000 after acquiring an additional 6,784 shares during the period. Superstring Capital Management LP bought a new position in shares of Inozyme Pharma during the 4th quarter worth approximately $528,000. Kennedy Capital Management LLC boosted its stake in shares of Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after acquiring an additional 150,120 shares during the period. Finally, Affinity Asset Advisors LLC boosted its stake in shares of Inozyme Pharma by 36.7% during the 4th quarter. Affinity Asset Advisors LLC now owns 1,885,802 shares of the company’s stock worth $8,034,000 after acquiring an additional 505,950 shares during the period. Institutional investors and hedge funds 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.