Inozyme Pharma, Inc. (NASDAQ:INZY) Director Robert Lorne Hopfner Purchases 219,230 Shares

Inozyme Pharma, Inc. (NASDAQ:INZY – Get Rating) Director Robert Lorne Hopfner acquired 219,230 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average cost of $6.48 per share, with a total value of $1,420,610.40. Following the acquisition, the director now directly owns 3,432,816 shares of the company’s stock, valued at $22,244,647.68. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Robert Lorne Hopfner also recently made the following trade(s):

• On Wednesday, March 29th, Robert Lorne Hopfner purchased 344,592 shares of Inozyme Pharma stock. The shares were purchased at an average price of $4.54 per share, with a total value of $1,564,447.68.
• On Monday, March 27th, Robert Lorne Hopfner acquired 51,074 shares of Inozyme Pharma stock. The stock was acquired at an average price of $3.70 per share, for a total transaction of $188,973.80.

Inozyme Pharma Trading Up 6.7 %

Shares of NASDAQ:INZY opened at $6.49 on Tuesday. Inozyme Pharma, Inc. has a 1 year low of $0.99 and a 1 year high of $7.13. The firm has a market capitalization of $284.03 million, a P/E ratio of -3.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.93 and a quick ratio of 8.93. The business’s 50-day moving average is $4.89 and its 200 day moving average is $2.92.

Analyst Upgrades and Downgrades

INZY has been the subject of a number of research reports. Jefferies Financial Group raised shares of Inozyme Pharma from a “hold” rating to a “buy” rating and upped their target price for the company from $4.50 to $6.00 in a report on Thursday, March 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Inozyme Pharma in a report on Friday, February 17th. Wedbush reissued an “outperform” rating and set a $15.00 price target on shares of Inozyme Pharma in a report on Wednesday, March 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, April 19th.

Institutional Investors Weigh In On Inozyme Pharma

Hedge funds have recently bought and sold shares of the stock. FMR LLC acquired a new position in shares of Inozyme Pharma in the 1st quarter valued at $4,028,000. Sphera Funds Management LTD. raised its position in shares of Inozyme Pharma by 38.3% in the fourth quarter. Sphera Funds Management LTD. now owns 1,625,058 shares of the company’s stock worth $1,706,000 after acquiring an additional 450,000 shares during the period. Rock Springs Capital Management LP boosted its stake in shares of Inozyme Pharma by 37.4% during the 1st quarter. Rock Springs Capital Management LP now owns 1,193,195 shares of the company’s stock worth $4,880,000 after acquiring an additional 324,729 shares in the last quarter. Affinity Asset Advisors LLC grew its position in shares of Inozyme Pharma by 50.4% during the 1st quarter. Affinity Asset Advisors LLC now owns 751,796 shares of the company’s stock valued at $4,308,000 after acquiring an additional 251,796 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Inozyme Pharma in the 2nd quarter valued at about $826,000. Hedge funds and other institutional investors own 76.35% of the company’s stock.

Inozyme Pharma Company Profile

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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.