Longitude Capital Partners Iii Acquires 1,355,000 Shares of Inozyme Pharma, Inc. (NASDAQ:INZY) Stock

Inozyme Pharma, Inc. (NASDAQ:INZY – Get Rating) major shareholder Longitude Capital Partners Iii purchased 1,355,000 shares of Inozyme Pharma stock in a transaction dated Tuesday, April 19th. The shares were bought at an average cost of $3.69 per share, for a total transaction of $4,999,950.00. Following the transaction, the insider now directly owns 4,174,379 shares of the company’s stock, valued at approximately $15,403,458.51. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

INZY stock opened at $5.36 on Friday. The stock has a market capitalization of $126.89 million, a price-to-earnings ratio of -2.24 and a beta of 1.54. Inozyme Pharma, Inc. has a 1 year low of $3.54 and a 1 year high of $19.58. The stock’s fifty day moving average is $4.94 and its two-hundred day moving average is $6.89.

Inozyme Pharma (NASDAQ:INZY – Get Rating) last posted its earnings results on Tuesday, March 15th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Analysts predict that Inozyme Pharma, Inc. will post -3.05 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in Inozyme Pharma by 16,531.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,983 shares of the company’s stock valued at $54,000 after buying an additional 7,935 shares in the last quarter. Bank of America Corp DE grew its position in Inozyme Pharma by 4,030.0% in the 4th quarter. Bank of America Corp DE now owns 11,853 shares of the company’s stock valued at $81,000 after buying an additional 11,566 shares in the last quarter. Walleye Capital LLC bought a new stake in Inozyme Pharma during the fourth quarter worth approximately $106,000. New York State Common Retirement Fund raised its holdings in Inozyme Pharma by 18.8% during the third quarter. New York State Common Retirement Fund now owns 10,453 shares of the company’s stock worth $121,000 after purchasing an additional 1,651 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Inozyme Pharma during the third quarter worth approximately $135,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Wedbush lowered their price target on Inozyme Pharma from $35.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, March 16th. HC Wainwright started coverage on shares of Inozyme Pharma in a research report on Monday, February 7th. They issued a “buy” rating and a $33.00 price target on the stock. Needham & Company LLC started coverage on shares of Inozyme Pharma in a research report on Thursday, April 14th. They issued a “buy” rating and a $23.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Inozyme Pharma from a “hold” rating to a “sell” rating in a research report on Wednesday, January 12th.

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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