The Manufacturers Life Insurance Company Grows Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

The Manufacturers Life Insurance Company boosted its stake in Inozyme Pharma, Inc. (NASDAQ:INZY) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,427 shares of the company’s stock after buying an additional 2,690 shares during the period. The Manufacturers Life Insurance Company’s holdings in Inozyme Pharma were worth $96,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in shares of Inozyme Pharma by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 57,100 shares of the company’s stock valued at $255,000 after acquiring an additional 5,673 shares during the period. Deerfield Management Company L.P. Series C purchased a new stake in shares of Inozyme Pharma during the second quarter worth $52,000. Rhumbline Advisers increased its holdings in Inozyme Pharma by 22.0% during the 2nd quarter. Rhumbline Advisers now owns 77,004 shares of the company’s stock worth $343,000 after purchasing an additional 13,867 shares during the period. Renaissance Technologies LLC raised its holdings in Inozyme Pharma by 8.1% in the second quarter. Renaissance Technologies LLC now owns 187,839 shares of the company’s stock valued at $838,000 after acquiring an additional 14,139 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Inozyme Pharma in the 2nd quarter valued at $68,000. Institutional investors and hedge funds own 88.30% of the company’s stock.

Inozyme Pharma Stock Up 7.6 %

Shares of NASDAQ:INZY opened at $5.54 on Monday. Inozyme Pharma, Inc. 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 0.48, a current ratio of 9.84 and a quick ratio of 9.84. The stock has a market cap of $342.68 million, a P/E ratio of -4.04 and a beta of 1.51. The firm has a fifty day moving average price of $5.24 and a 200 day moving average price of $4.98.

Inozyme Pharma (NASDAQ:INZY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.07). Sell-side analysts predict that Inozyme Pharma, Inc. will post -1.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Stifel Nicolaus initiated coverage on shares of Inozyme Pharma in a report on Thursday, September 12th. They set a “buy” rating and a $16.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a report on Tuesday, August 6th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Inozyme Pharma in a research note on Thursday, August 8th. Finally, Wedbush reissued an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research report on Monday, September 30th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.14.

Inozyme Pharma Company Profile

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.