Geode Capital Management LLC Boosts Stake in Inozyme Pharma, Inc. (NASDAQ:INZY)

Geode Capital Management LLC raised its stake in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,171,172 shares of the company’s stock after buying an additional 19,499 shares during the quarter. Geode Capital Management LLC owned about 1.82% of Inozyme Pharma worth $6,126,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INZY. Deerfield Management Company L.P. Series C acquired a new stake in shares of Inozyme Pharma during the second quarter valued at $52,000. Meeder Asset Management Inc. purchased a new position in Inozyme Pharma in the 2nd quarter valued at about $68,000. SG Americas Securities LLC acquired a new stake in shares of Inozyme Pharma during the 3rd quarter worth about $81,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Inozyme Pharma during the second quarter worth about $84,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Inozyme Pharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock valued at $96,000 after buying an additional 2,690 shares during the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Stock Performance

Shares of NASDAQ:INZY opened at $3.07 on Friday. The business has a 50-day moving average of $3.20 and a two-hundred day moving average of $4.44. The firm has a market capitalization of $197.22 million, a PE ratio of -1.97 and a beta of 1.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. Inozyme Pharma, Inc. has a 12 month low of $2.38 and a 12 month high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last posted its earnings results on Tuesday, November 5th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. As a group, research analysts forecast that Inozyme Pharma, Inc. will post -1.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Raymond James began coverage on Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock. Stifel Nicolaus began coverage on Inozyme Pharma in a research note on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price target on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective (down previously from $15.00) on shares of Inozyme Pharma in a research note on Tuesday, November 5th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Inozyme Pharma 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.