Inozyme Pharma (NASDAQ:INZY) PT Lowered to $14.00 at Bank of America

Inozyme Pharma (NASDAQ:INZY - Free Report) had its price objective cut by Bank of America from $16.00 to $14.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also commented on INZY. HC Wainwright restated a buy rating and issued a $16.00 price objective on shares of Inozyme Pharma in a report on Wednesday, March 13th. Needham & Company LLC reissued a buy rating and set a $23.00 price objective on shares of Inozyme Pharma in a research report on Tuesday. Finally, Wedbush reissued an outperform rating and set a $15.00 price objective on shares of Inozyme Pharma in a research report on Monday.

Inozyme Pharma Trading Down 6.6 %

Shares of Inozyme Pharma stock traded down $0.39 during trading on Tuesday, reaching $5.48. The company's stock had a trading volume of 1,747,192 shares, compared to its average volume of 602,761. Inozyme Pharma has a 52-week low of $2.69 and a 52-week high of $7.80. The company has a market cap of $338.50 million, a price-to-earnings ratio of -3.90 and a beta of 1.37. The firm's 50-day moving average is $6.07 and its two-hundred day moving average is $4.61. The company has a quick ratio of 13.36, a current ratio of 13.36 and a debt-to-equity ratio of 0.32.

Inozyme Pharma (NASDAQ:INZY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.04). On average, sell-side analysts anticipate that Inozyme Pharma will post -1.48 earnings per share for the current year.

Insider Activity

In other news, CEO Douglas A. Treco sold 7,523 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $6.94, for a total value of $52,209.62. Following the transaction, the chief executive officer now owns 20,665 shares in the company, valued at approximately $143,415.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.88% of the company's stock.

Hedge Funds Weigh In On Inozyme Pharma

Several institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Inozyme Pharma by 62.7% in the 2nd quarter. Barclays PLC now owns 10,205 shares of the company's stock worth $56,000 after purchasing an additional 3,932 shares during the period. Dimensional Fund Advisors LP raised its stake in Inozyme Pharma by 7.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 63,685 shares of the company's stock worth $272,000 after acquiring an additional 4,244 shares during the period. Bank of America Corp DE raised its stake in Inozyme Pharma by 62.5% during the 1st quarter. Bank of America Corp DE now owns 11,548 shares of the company's stock worth $66,000 after acquiring an additional 4,443 shares during the period. Tower Research Capital LLC TRC raised its stake in Inozyme Pharma by 134.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 8,332 shares of the company's stock worth $35,000 after acquiring an additional 4,777 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Inozyme Pharma by 6.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 93,995 shares of the company's stock worth $395,000 after acquiring an additional 5,738 shares during the period. Institutional investors own 88.30% of the company's stock.

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.