BIT Capital GmbH Makes New $177,000 Investment in Inozyme Pharma, Inc. (NASDAQ:INZY)

BIT Capital GmbH purchased a new stake in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 63,799 shares of the company’s stock, valued at approximately $177,000. BIT Capital GmbH owned approximately 0.10% of Inozyme Pharma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new position in Inozyme Pharma in the 4th quarter worth about $38,000. Palumbo Wealth Management LLC grew its stake in shares of Inozyme Pharma by 52.3% in the fourth quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after acquiring an additional 7,995 shares during the period. Virtu Financial LLC purchased a new position in shares of Inozyme Pharma during the third quarter valued at approximately $64,000. Intech Investment Management LLC bought a new position in Inozyme Pharma during the fourth quarter valued at approximately $68,000. Finally, Readystate Asset Management LP purchased a new stake in Inozyme Pharma in the third quarter worth approximately $100,000. 88.30% of the stock is owned by institutional investors.

Inozyme Pharma Stock Performance

INZY opened at $0.96 on Thursday. The company has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $2.97. 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 firm has a market cap of $61.65 million, a P/E ratio of -0.62 and a beta of 1.32. Inozyme Pharma, Inc. has a 1-year low of $0.91 and a 1-year high of $7.80.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INZY shares. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Inozyme Pharma in a research note on Tuesday, March 11th. Wedbush reiterated an “outperform” rating and set a $7.00 price objective (down previously from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Raymond James dropped their target price on Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Piper Sandler reduced their price target on shares of Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, March 11th. Finally, Wells Fargo & Company dropped their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.56.

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.