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

Inozyme Pharma, Inc. (NASDAQ:INZY) saw a significant 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. Approximately 8.4% of the shares of the company are sold short. Based on an average daily volume of 545,100 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of INZY. Deerfield Management Company L.P. Series C bought a new position in shares of Inozyme Pharma in the second quarter worth about $52,000. Virtu Financial LLC bought a new position in Inozyme Pharma in the 3rd quarter worth approximately $64,000. SG Americas Securities LLC acquired a new position in Inozyme Pharma during the 3rd quarter worth $81,000. Cubist Systematic Strategies LLC bought a new position in Inozyme Pharma in the 2nd quarter valued at $84,000. Finally, The Manufacturers Life Insurance Company boosted its position in Inozyme Pharma by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after buying an additional 2,690 shares during the last quarter. Institutional investors own 88.30% of the company’s stock.

Analyst Upgrades and Downgrades

INZY has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. HC Wainwright increased their target price on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Raymond James started coverage on Inozyme Pharma in a research report on Thursday, December 12th. They issued an “outperform” rating and a $26.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Inozyme Pharma in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Inozyme Pharma currently has a consensus rating of “Buy” and a consensus target price of $18.33.

Inozyme Pharma Stock Performance

INZY stock remained flat at $1.36 during trading on Friday. The company had a trading volume of 1,359,588 shares, compared to its average volume of 431,124. The company has a current ratio of 7.68, a quick ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $2.75 and its two-hundred day moving average is $4.28. Inozyme Pharma has a twelve month low of $1.32 and a twelve month high of $7.80. 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 (NASDAQ:INZY) last posted its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.05. On average, analysts expect that Inozyme Pharma will post -1.59 earnings per share 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.