Stock analysts at Jefferies Financial Group initiated coverage on shares of Inozyme Pharma (NASDAQ:INZY – Get Rating) in a research report issued on Thursday, The Fly reports. The brokerage set a “hold” rating on the stock.
A number of other research firms also recently weighed in on INZY. Needham & Company LLC began coverage on Inozyme Pharma in a report on Thursday, April 14th. They set a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research raised Inozyme Pharma from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a report on Wednesday, May 18th. HC Wainwright began coverage on Inozyme Pharma in a report on Monday, February 7th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Wedbush decreased their price objective on Inozyme Pharma from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.88.
Shares of NASDAQ:INZY opened at $4.00 on Thursday. The company has a market cap of $160.39 million, a P/E ratio of -1.52 and a beta of 1.12. The stock’s 50-day moving average is $4.27 and its 200-day moving average is $5.99. Inozyme Pharma has a 52-week low of $3.54 and a 52-week high of $19.58.
In related news, Director Robert Lorne Hopfner acquired 1,070,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was purchased at an average price of $3.69 per share, for a total transaction of $3,948,300.00. Following the transaction, the director now directly owns 2,661,154 shares of the company’s stock, valued at approximately $9,819,658.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Axel Bolte acquired 67,750 shares of the company’s stock in a transaction that occurred on Tuesday, April 19th. The stock was bought at an average price of $3.69 per share, with a total value of $249,997.50. Following the transaction, the chief executive officer now directly owns 258,575 shares in the company, valued at $954,141.75. The disclosure for this purchase can be found here. Insiders bought 2,519,850 shares of company stock valued at $9,298,247 in the last quarter. 11.29% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of INZY. Suvretta Capital Management LLC raised its position in Inozyme Pharma by 170.1% in the 3rd quarter. Suvretta Capital Management LLC now owns 986,400 shares of the company’s stock worth $11,432,000 after purchasing an additional 621,228 shares during the last quarter. Rock Springs Capital Management LP grew its holdings in Inozyme Pharma by 37.4% during the 1st quarter. Rock Springs Capital Management LP now owns 1,193,195 shares of the company’s stock worth $4,880,000 after acquiring an additional 324,729 shares during the period. BioImpact Capital LLC acquired a new stake in Inozyme Pharma during the 3rd quarter worth $3,717,000. Deerfield Management Company L.P. Series C grew its holdings in Inozyme Pharma by 7.6% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,344,786 shares of the company’s stock worth $27,176,000 after acquiring an additional 165,801 shares during the period. Finally, Caas Capital Management LP acquired a new stake in Inozyme Pharma during the 3rd quarter worth $1,569,000.
About Inozyme Pharma (Get Rating)
Inozyme Pharma, Inc, a rare disease biopharmaceutical company, engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant protein to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies, as well as for the treatment of calciphylaxis.
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