Barclays PLC Increases Stock Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

Barclays PLC increased its holdings in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) by 261.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,730 shares of the company’s stock after purchasing an additional 55,497 shares during the period. Barclays PLC owned 0.12% of Inozyme Pharma worth $401,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C bought a new stake in Inozyme Pharma during the 2nd quarter valued at $52,000. SG Americas Securities LLC purchased a new stake in shares of Inozyme Pharma during the 3rd quarter worth $81,000. Cubist Systematic Strategies LLC bought a new stake in Inozyme Pharma during the second quarter valued at about $84,000. The Manufacturers Life Insurance Company grew its stake in 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 purchasing an additional 2,690 shares during the last quarter. Finally, Readystate Asset Management LP bought a new position in Inozyme Pharma in the third quarter worth about $100,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $12.00 price target on shares of Inozyme Pharma in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $23.00 target price on shares of Inozyme Pharma in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Piper Sandler lowered their price objective on Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Raymond James initiated coverage on Inozyme Pharma in a research report on Thursday, December 12th. They set an “outperform” rating and a $26.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $18.33.

Inozyme Pharma Stock Performance

Shares of INZY stock opened at $1.36 on Friday. The business has a fifty day moving average of $2.75 and a 200 day moving average of $4.28. Inozyme Pharma, Inc. has a 1 year low of $1.32 and a 1 year high of $7.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 7.68 and a quick ratio of 7.68. The firm has a market capitalization of $87.37 million, a price-to-earnings ratio of -0.87 and a beta of 1.35.

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

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.