Millennium Management LLC Has $5.21 Million Stock Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

Millennium Management LLC grew its holdings in shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,882,274 shares of the company's stock after purchasing an additional 137,821 shares during the period. Millennium Management LLC owned 2.93% of Inozyme Pharma worth $5,214,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Harvest Investment Services LLC acquired a new stake in Inozyme Pharma during the fourth quarter worth about $31,000. Graham Capital Management L.P. acquired a new position in Inozyme Pharma during the 4th quarter valued at approximately $33,000. China Universal Asset Management Co. Ltd. acquired a new position in Inozyme Pharma during the 4th quarter valued at approximately $38,000. D. E. Shaw & Co. Inc. bought a new position in Inozyme Pharma during the 4th quarter worth $49,000. Finally, Palumbo Wealth Management LLC increased its position in 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 buying an additional 7,995 shares during the period. 88.30% of the stock is currently owned by institutional investors.

Inozyme Pharma Stock Performance

NASDAQ:INZY remained flat at $3.95 during midday trading on Friday. The company had a trading volume of 1,091,177 shares, compared to its average volume of 859,017. The company's 50 day moving average price is $1.68 and its 200-day moving average price is $1.88. 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 company has a market cap of $255.02 million, a P/E ratio of -2.53 and a beta of 1.35. Inozyme Pharma, Inc. has a 1 year low of $0.72 and a 1 year high of $6.24.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.01). Sell-side analysts forecast that Inozyme Pharma, Inc. will post -1.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler lowered 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. Needham & Company LLC cut shares of Inozyme Pharma from a "moderate buy" rating to a "hold" rating in a research report on Friday, May 16th. Wedbush cut Inozyme Pharma from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Jefferies Financial Group reiterated a "hold" rating and set a $4.00 price objective (down from $15.00) on shares of Inozyme Pharma in a research report on Friday, May 16th. Finally, TD Cowen cut Inozyme Pharma from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.75.

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.