Geode Capital Management LLC Grows Stake in Inozyme Pharma, Inc. (NASDAQ:INZY)

Geode Capital Management LLC lifted its stake in Inozyme Pharma, Inc. (NASDAQ:INZY) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,171,172 shares of the company’s stock after buying an additional 19,499 shares during the period. Geode Capital Management LLC’s holdings in Inozyme Pharma were worth $6,126,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in Inozyme Pharma by 16.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 190,896 shares of the company’s stock worth $851,000 after acquiring an additional 26,464 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Inozyme Pharma by 22.0% during the second quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock worth $343,000 after purchasing an additional 13,867 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Inozyme Pharma by 11.0% in the second quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after purchasing an additional 5,673 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Inozyme Pharma in the second quarter valued at $68,000. Finally, Dimensional Fund Advisors LP grew its holdings in Inozyme Pharma by 117.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 380,064 shares of the company’s stock valued at $1,695,000 after purchasing an additional 205,417 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.

Wall Street Analyst Weigh In

INZY has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Raymond James assumed coverage on Inozyme Pharma in a research report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus began coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.00.

Inozyme Pharma Stock Performance

INZY stock opened at $3.07 on Friday. The stock’s 50 day simple moving average is $3.20 and its 200 day simple moving average is $4.44. Inozyme Pharma, Inc. has a 12-month low of $2.38 and a 12-month high of $7.80. The firm has a market cap of $197.22 million, a P/E ratio of -1.97 and a beta of 1.37. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. As a group, equities research analysts predict that Inozyme Pharma, Inc. will post -1.59 EPS for the current 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.