Inozyme Pharma, Inc. (NASDAQ:INZY) Short Interest Up 118.3% in April

Inozyme Pharma, Inc. (NASDAQ:INZYGet Rating) saw a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 876,200 shares, a growth of 118.3% from the April 15th total of 401,300 shares. Based on an average daily volume of 210,700 shares, the short-interest ratio is presently 4.2 days.

In related news, major shareholder Longitude Capital Partners Iii purchased 1,355,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The shares were acquired at an average price 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 in the company, valued at $15,403,458.51. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Henric Bjorn Bjarke purchased 27,100 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was bought at an average price of $3.69 per share, for a total transaction of $99,999.00. Following the purchase, the chief operating officer now owns 80,626 shares in the company, valued at approximately $297,509.94. The disclosure for this purchase can be found here. Insiders have bought a total of 2,519,850 shares of company stock worth $9,298,247 over the last 90 days. 11.29% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Deerfield Management Company L.P. Series C lifted its stake in Inozyme Pharma by 7.6% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,344,786 shares of the company’s stock valued at $27,176,000 after purchasing an additional 165,801 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Inozyme Pharma by 8.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,599,028 shares of the company’s stock valued at $10,905,000 after purchasing an additional 131,200 shares during the last quarter. Suvretta Capital Management LLC lifted its stake in Inozyme Pharma by 2.7% in the 4th quarter. Suvretta Capital Management LLC now owns 1,013,216 shares of the company’s stock valued at $6,910,000 after purchasing an additional 26,816 shares during the last quarter. BlackRock Inc. lifted its stake in Inozyme Pharma by 4.9% in the 1st quarter. BlackRock Inc. now owns 878,400 shares of the company’s stock valued at $3,593,000 after purchasing an additional 41,402 shares during the last quarter. Finally, Rock Springs Capital Management LP lifted its stake in Inozyme Pharma by 1.2% in the 3rd quarter. Rock Springs Capital Management LP now owns 850,015 shares of the company’s stock valued at $9,852,000 after purchasing an additional 9,743 shares during the last quarter.

Shares of Inozyme Pharma stock traded up $0.07 on Friday, reaching $4.07. 117 shares of the stock were exchanged, compared to its average volume of 466,130. The firm’s 50 day moving average is $4.36 and its 200-day moving average is $6.34. Inozyme Pharma has a one year low of $3.54 and a one year high of $19.58. The firm has a market cap of $96.95 million, a PE ratio of -1.52 and a beta of 1.12.

Inozyme Pharma (NASDAQ:INZYGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.11. As a group, research analysts predict that Inozyme Pharma will post -3.05 earnings per share for the current fiscal year.

A number of research 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 issued a “buy” rating and a $23.00 price target on the stock. Wedbush cut their price objective on shares of Inozyme Pharma from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, HC Wainwright assumed coverage on shares of Inozyme Pharma in a report on Monday, February 7th. They issued a “buy” rating and a $33.00 price objective for the company.

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.

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