Inozyme Pharma, Inc. (NASDAQ:INZY) Shares Bought by Millennium Management LLC

Millennium Management LLC increased its holdings in Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,882,274 shares of the company's stock after acquiring an additional 137,821 shares during the period. Millennium Management LLC owned approximately 2.93% of Inozyme Pharma worth $5,214,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. purchased a new position in Inozyme Pharma in the fourth quarter worth approximately $359,000. Graham Capital Management L.P. purchased a new position in Inozyme Pharma in the fourth quarter worth approximately $33,000. Deutsche Bank AG grew its position in Inozyme Pharma by 29.1% in the fourth quarter. Deutsche Bank AG now owns 40,215 shares of the company's stock worth $111,000 after acquiring an additional 9,055 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in Inozyme Pharma in the fourth quarter worth approximately $49,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma in the fourth quarter worth approximately $232,000. 88.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on INZY shares. Piper Sandler lowered their price objective on Inozyme Pharma from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Raymond James lowered their price target on Inozyme Pharma from $24.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group restated a "hold" rating and set a $4.00 price target (down from $15.00) on shares of Inozyme Pharma in a research report on Friday, May 16th. TD Cowen lowered Inozyme Pharma from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Needham & Company LLC lowered Inozyme Pharma from a "moderate buy" rating to a "hold" rating in a research report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Inozyme Pharma has an average rating of "Hold" and an average target price of $11.75.

Inozyme Pharma Price Performance

Shares of NASDAQ INZY remained flat at $3.97 during mid-day trading on Monday. The stock had a trading volume of 1,803,406 shares, compared to its average volume of 865,090. The stock has a market cap of $256.31 million, a P/E ratio of -2.54 and a beta of 1.35. 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 twelve month low of $0.72 and a twelve month high of $6.24. The business's fifty day moving average price is $1.74 and its 200-day moving average price is $1.86.

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 (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.01). On average, analysts expect that Inozyme Pharma, Inc. will post -1.59 EPS for the current year.

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.