Adage Capital Partners GP L.L.C. Sells 513,629 Shares of Inozyme Pharma, Inc. (NASDAQ:INZY)

Adage Capital Partners GP L.L.C. lessened its position in shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,160,000 shares of the company's stock after selling 513,629 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 8.03% of Inozyme Pharma worth $14,293,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Inozyme Pharma by 5.0% in the third quarter. State Street Corp now owns 1,050,420 shares of the company's stock valued at $5,494,000 after purchasing an additional 50,386 shares in the last quarter. Jane Street Group LLC grew its stake in shares of 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. Barclays PLC increased its holdings in shares of Inozyme Pharma by 261.4% in the 3rd quarter. Barclays PLC now owns 76,730 shares of the company's stock worth $401,000 after buying an additional 55,497 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Inozyme Pharma by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,172 shares of the company's stock valued at $6,126,000 after buying an additional 19,499 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Inozyme Pharma in the 3rd quarter valued at about $64,000. Institutional investors own 88.30% of the company's stock.

Inozyme Pharma Trading Up 33.9 %

INZY traded up $0.41 on Friday, reaching $1.62. 8,063,532 shares of the company traded hands, compared to its average volume of 493,052. The company has a market cap of $104.07 million, a P/E ratio of -1.04 and a beta of 1.39. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. Inozyme Pharma, Inc. has a one year low of $0.72 and a one year high of $6.24. The firm has a fifty day simple moving average of $1.01 and a two-hundred day simple moving average of $2.11.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INZY. Needham & Company LLC restated a "buy" rating and set a $15.00 price objective on shares of Inozyme Pharma in a research report on Tuesday, April 8th. Wells Fargo & Company dropped 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. Piper Sandler reduced their target price on shares of Inozyme Pharma from $30.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Wedbush reaffirmed an "outperform" rating and set a $7.00 price target (down from $12.00) on shares of Inozyme Pharma in a research note on Monday, March 10th. Finally, Raymond James cut their price target on shares of Inozyme Pharma from $24.00 to $12.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $14.63.

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.