Inozyme Pharma (NASDAQ:INZY) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Inozyme Pharma (NASDAQ:INZY - Free Report) in a research report report published on Tuesday morning, Benzinga reports. Needham & Company LLC currently has a $23.00 price target on the stock.

A number of other research firms also recently commented on INZY. Wedbush reaffirmed an outperform rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Monday. HC Wainwright reiterated a buy rating and issued a $16.00 target price on shares of Inozyme Pharma in a research report on Wednesday, March 13th.

Inozyme Pharma Price Performance

INZY stock traded down $0.39 during midday trading on Tuesday, reaching $5.48. The company had a trading volume of 1,747,192 shares, compared to its average volume of 602,761. The company has a market capitalization of $338.50 million, a price-to-earnings ratio of -3.94 and a beta of 1.37. The stock has a 50 day moving average price of $6.07 and a 200-day moving average price of $4.62. Inozyme Pharma has a 1-year low of $2.69 and a 1-year high of $7.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 13.36 and a quick ratio of 13.36.

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). Equities research analysts expect that Inozyme Pharma will post -1.48 earnings per share for the current year.

Insider Buying and Selling at Inozyme Pharma

In other news, CEO Douglas A. Treco sold 7,523 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $6.94, for a total transaction of $52,209.62. Following the sale, the chief executive officer now directly owns 20,665 shares in the company, valued at $143,415.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.88% of the company's stock.

Institutional Trading of Inozyme Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of Inozyme Pharma by 134.4% during the third quarter. Tower Research Capital LLC TRC now owns 8,332 shares of the company's stock worth $35,000 after purchasing an additional 4,777 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Inozyme Pharma during the third quarter worth about $35,000. Strs Ohio bought a new stake in shares of Inozyme Pharma during the third quarter worth about $41,000. PDT Partners LLC bought a new stake in shares of Inozyme Pharma during the first quarter worth about $42,000. Finally, Renaissance Technologies LLC bought a new stake in Inozyme Pharma in the first quarter valued at approximately $49,000. 88.30% of the stock is currently owned by 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.