Insider Buying: Inozyme Pharma, Inc. (NASDAQ:INZY) CEO Acquires 67,750 Shares of Stock

Inozyme Pharma, Inc. (NASDAQ:INZYGet Rating) CEO Axel Bolte bought 67,750 shares of the stock in a transaction that occurred on Tuesday, April 19th. The shares were purchased at an average price of $3.69 per share, with a total value of $249,997.50. Following the purchase, the chief executive officer now owns 258,575 shares of the company’s stock, valued at approximately $954,141.75. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

NASDAQ INZY traded down $0.05 during trading hours on Wednesday, hitting $4.43. The company had a trading volume of 17,826 shares, compared to its average volume of 117,068. Inozyme Pharma, Inc. has a 1-year low of $3.54 and a 1-year high of $19.58. The company has a market cap of $104.87 million, a PE ratio of -1.85 and a beta of 1.54. The business has a 50 day moving average of $5.08 and a 200-day moving average of $6.99.

Inozyme Pharma (NASDAQ:INZYGet Rating) last released its quarterly earnings data on Tuesday, March 15th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.11). On average, sell-side analysts predict that Inozyme Pharma, Inc. will post -3.05 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. New York State Common Retirement Fund raised its holdings in shares of Inozyme Pharma by 18.8% in the third quarter. New York State Common Retirement Fund now owns 10,453 shares of the company’s stock valued at $121,000 after buying an additional 1,651 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Inozyme Pharma by 7.9% in the fourth quarter. Marshall Wace LLP now owns 36,033 shares of the company’s stock valued at $247,000 after buying an additional 2,625 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Inozyme Pharma by 10.6% in the third quarter. Bank of New York Mellon Corp now owns 40,418 shares of the company’s stock valued at $469,000 after buying an additional 3,872 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Inozyme Pharma by 4.0% in the fourth quarter. Northern Trust Corp now owns 120,762 shares of the company’s stock valued at $823,000 after buying an additional 4,661 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Inozyme Pharma by 24.9% in the first quarter. Morgan Stanley now owns 24,550 shares of the company’s stock valued at $486,000 after buying an additional 4,897 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently commented on INZY shares. Needham & Company LLC started coverage on shares of Inozyme Pharma in a research note on Thursday, April 14th. They set a “buy” rating and a $23.00 target price for the company. Wedbush decreased their price objective on shares of Inozyme Pharma from $35.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, March 16th. Zacks Investment Research downgraded shares of Inozyme Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, January 12th. Finally, HC Wainwright began coverage on shares of Inozyme Pharma in a research note on Monday, February 7th. They issued a “buy” rating and a $33.00 price objective for the company.

About Inozyme Pharma (Get Rating)

Inozyme Pharma, Inc, a rare disease biopharmaceutical company, engages in developing therapeutics for treating abnormal mineralization impacting the vasculature, soft tissue, and skeleton diseases. The company's lead product candidate is INZ-701, a soluble, recombinant protein to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies, as well as for the treatment of calciphylaxis.

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