Inozyme Pharma, Inc. (NASDAQ:INZY) Major Shareholder Longitude Capital Partners Iii Purchases 1,355,000 Shares

Inozyme Pharma, Inc. (NASDAQ:INZYGet Rating) major shareholder Longitude Capital Partners Iii bought 1,355,000 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was acquired at an average cost of $3.69 per share, for a total transaction of $4,999,950.00. Following the purchase, the insider now owns 4,174,379 shares of the company’s stock, valued at $15,403,458.51. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of INZY stock traded up $0.51 during trading hours on Thursday, reaching $4.92. 968,339 shares of the company were exchanged, compared to its average volume of 134,978. Inozyme Pharma, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $19.58. The stock’s fifty day moving average is $5.03 and its two-hundred day moving average is $6.97. The company has a market cap of $116.47 million, a price-to-earnings ratio of -2.07 and a beta of 1.54.

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

Hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Inozyme Pharma in the third quarter valued at approximately $135,000. Russell Investments Group Ltd. lifted its holdings in Inozyme Pharma by 4,518.8% in the third quarter. Russell Investments Group Ltd. now owns 115,516 shares of the company’s stock valued at $1,337,000 after buying an additional 113,015 shares during the period. BioImpact Capital LLC acquired a new position in Inozyme Pharma in the third quarter valued at approximately $3,717,000. New York State Common Retirement Fund lifted its holdings in 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 period. Finally, Geode Capital Management LLC lifted its holdings in Inozyme Pharma by 10.5% in the third quarter. Geode Capital Management LLC now owns 198,624 shares of the company’s stock valued at $2,302,000 after buying an additional 18,952 shares during the period. Institutional investors own 83.41% of the company’s stock.

Several analysts have weighed in on INZY shares. Wedbush decreased their price objective on shares of Inozyme Pharma from $35.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 16th. Zacks Investment Research cut shares of Inozyme Pharma from a “hold” rating to a “sell” rating in a research note on Wednesday, January 12th. 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 price objective on the stock. Finally, HC Wainwright started coverage on shares of Inozyme Pharma in a research note on Monday, February 7th. They set a “buy” rating and a $33.00 price objective on the stock.

Inozyme Pharma Company Profile (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.

See Also

Receive News & Ratings for Inozyme Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inozyme Pharma and related companies with MarketBeat.com's FREE daily email newsletter.