Eventide Asset Management LLC Raises Stake in Inozyme Pharma, Inc. (NASDAQ:INZY)

Eventide Asset Management LLC boosted its stake in Inozyme Pharma, Inc. (NASDAQ:INZY) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,134,436 shares of the company’s stock after purchasing an additional 198,216 shares during the quarter. Eventide Asset Management LLC owned about 6.44% of Inozyme Pharma worth $21,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in INZY. Deerfield Management Company L.P. Series C bought a new stake in shares of Inozyme Pharma during the 2nd quarter valued at about $52,000. Meeder Asset Management Inc. bought a new position in shares of Inozyme Pharma in the 2nd quarter worth $68,000. SG Americas Securities LLC acquired a new position in Inozyme Pharma during the 3rd quarter valued at about $81,000. Values First Advisors Inc. purchased a new stake in shares of Inozyme Pharma in the second quarter worth about $76,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma during the second quarter worth approximately $84,000. Institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Price Performance

NASDAQ INZY opened at $2.72 on Friday. Inozyme Pharma, Inc. has a 12 month low of $2.56 and a 12 month high of $7.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The stock’s 50 day moving average is $4.41 and its 200 day moving average is $4.77.

Inozyme Pharma (NASDAQ:INZY) last issued its earnings results on Tuesday, November 5th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, research analysts expect that Inozyme Pharma, Inc. will post -1.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INZY shares. Wedbush restated an “outperform” rating and set a $12.00 target price (down from $15.00) on shares of Inozyme Pharma in a report on Tuesday, November 5th. Jefferies Financial Group restated a “buy” rating and issued a $17.00 target price (up from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research note on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Inozyme Pharma currently has a consensus rating of “Buy” and a consensus target price of $15.71.

Inozyme Pharma 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.