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

Inozyme Pharma, Inc. (NASDAQ:INZY – Get Rating) was the target of a significant increase in short interest during the month of April. As of April 30th, there was short interest totalling 876,200 shares, an increase of 118.3% from the April 15th total of 401,300 shares. Based on an average trading volume of 210,700 shares, the days-to-cover ratio is presently 4.2 days.

In other news, 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 acquired at an average cost of $3.69 per share, for a total transaction of $99,999.00. Following the completion of the purchase, the chief operating officer now owns 80,626 shares of the company’s stock, valued at $297,509.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Lorne Hopfner purchased 1,070,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 19th. The stock was purchased at an average price of $3.69 per share, with a total value of $3,948,300.00. Following the completion of the purchase, the director now directly owns 2,661,154 shares of the company’s stock, valued at approximately $9,819,658.26. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,519,850 shares of company stock worth $9,298,247. Corporate insiders own 11.29% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new position in Inozyme Pharma during the first quarter valued at $49,000. BlackRock Inc. increased its position in Inozyme Pharma by 4.9% during the first quarter. BlackRock Inc. now owns 878,400 shares of the company’s stock valued at $3,593,000 after acquiring an additional 41,402 shares during the last quarter. Citigroup Inc. increased its position in Inozyme Pharma by 241.6% during the first quarter. Citigroup Inc. now owns 12,517 shares of the company’s stock valued at $51,000 after acquiring an additional 8,853 shares during the last quarter. Walleye Capital LLC bought a new position in Inozyme Pharma during the fourth quarter valued at $106,000. Finally, Wells Fargo & Company MN increased its position in Inozyme Pharma by 16,531.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,983 shares of the company’s stock valued at $54,000 after acquiring an additional 7,935 shares during the last quarter.

A number of equities analysts have commented on INZY shares. Wedbush decreased their target price on Inozyme Pharma from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Tuesday. Needham & Company LLC began coverage on Inozyme Pharma in a research note on Thursday, April 14th. They issued a “buy” rating and a $23.00 target price for the company. Finally, HC Wainwright began coverage on Inozyme Pharma in a research report on Monday, February 7th. They set a “buy” rating and a $33.00 price objective for the company.

Shares of NASDAQ INZY traded up $0.23 during midday trading on Friday, hitting $4.23. 130,703 shares of the company’s stock were exchanged, compared to its average volume of 471,445. The stock’s 50 day moving average price is $4.34 and its 200-day moving average price is $6.31. The firm has a market cap of $100.76 million, a P/E ratio of -1.61 and a beta of 1.12. Inozyme Pharma has a twelve month low of $3.54 and a twelve month high of $19.58.

Inozyme Pharma (NASDAQ:INZY – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.11. As a group, equities research analysts predict that Inozyme Pharma will post -2.63 earnings per share for the current fiscal year.

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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