Short Interest in Inozyme Pharma, Inc. (NASDAQ:INZY) Rises By 11.4%

Inozyme Pharma, Inc. (NASDAQ:INZY) saw a large increase in short interest in 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 short-interest ratio is currently 6.8 days. Approximately 8.4% of the company’s stock are sold short.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY opened at $1.36 on Monday. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $87.37 million, a PE ratio of -0.87 and a beta of 1.35. The firm’s 50 day moving average price is $2.75 and its 200-day moving average price is $4.28. Inozyme Pharma has a twelve month low of $1.32 and a twelve month high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last issued its quarterly 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. Equities research analysts expect that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Inozyme Pharma by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock worth $151,000 after acquiring an additional 6,851 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Inozyme Pharma during the 3rd quarter valued at $64,000. Barclays PLC lifted its stake in shares of Inozyme Pharma by 261.4% during the 3rd quarter. Barclays PLC now owns 76,730 shares of the company’s stock valued at $401,000 after buying an additional 55,497 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Inozyme Pharma by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company’s stock worth $6,126,000 after buying an additional 19,499 shares during the period. Finally, Jane Street Group LLC increased its stake in Inozyme Pharma by 7.5% in the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after buying an additional 3,443 shares in the last quarter. Institutional investors own 88.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on INZY shares. Piper Sandler dropped their target price on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Inozyme Pharma in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Finally, HC Wainwright upped their price target on Inozyme Pharma from $14.00 to $16.00 and gave the company a “buy” rating in a report on Friday, January 10th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $18.33.

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.