Inozyme Pharma (NASDAQ:INZY) Stock Rating Lowered by Needham & Company LLC

Needham & Company LLC downgraded shares of Inozyme Pharma (NASDAQ:INZY - Free Report) from a moderate buy rating to a hold rating in a research note released on Friday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Raymond James cut their target price 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. Piper Sandler dropped 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. HC Wainwright reissued a "buy" rating and issued a $16.00 price target on shares of Inozyme Pharma in a report on Thursday, April 10th. Wells Fargo & Company restated an "equal weight" rating and issued a $4.00 price objective on shares of Inozyme Pharma in a research report on Friday, May 16th. Finally, Wedbush reiterated an "outperform" rating and set a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a report on Monday, March 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $11.75.

Inozyme Pharma Trading Up 0.1%

Shares of INZY traded up $0.01 during trading hours on Friday, hitting $3.96. The company had a trading volume of 1,315,288 shares, compared to its average volume of 808,310. Inozyme Pharma has a 52-week low of $0.72 and a 52-week high of $6.24. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The stock's 50 day moving average price is $1.27 and its 200 day moving average price is $1.88. The firm has a market cap of $255.34 million, a P/E ratio of -2.54 and a beta of 1.35.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last posted its quarterly earnings results 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, research analysts predict that Inozyme Pharma will post -1.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC lifted its position in shares of Inozyme Pharma by 40.7% in the 4th quarter. Affinity Asset Advisors LLC now owns 3,972,318 shares of the company's stock worth $11,003,000 after purchasing an additional 1,150,000 shares during the period. Sanofi purchased a new position in shares of Inozyme Pharma during the fourth quarter valued at about $1,228,000. Renaissance Technologies LLC raised its stake in Inozyme Pharma by 155.7% in the fourth quarter. Renaissance Technologies LLC now owns 421,399 shares of the company's stock worth $1,167,000 after buying an additional 256,599 shares in the last quarter. Walleye Capital LLC bought a new position in Inozyme Pharma in the fourth quarter worth about $658,000. Finally, Pale Fire Capital SE lifted its holdings in Inozyme Pharma by 101.7% in the first quarter. Pale Fire Capital SE now owns 440,807 shares of the company's stock worth $401,000 after buying an additional 222,270 shares during the period. 88.30% of the stock is owned by hedge funds and other institutional investors.

About Inozyme Pharma

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.