Kennedy Capital Management LLC Buys 150,120 Shares of Inozyme Pharma, Inc. (NASDAQ:INZY)

Kennedy Capital Management LLC raised its stake in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) by 52.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 437,657 shares of the company’s stock after purchasing an additional 150,120 shares during the quarter. Kennedy Capital Management LLC owned 0.71% of Inozyme Pharma worth $3,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in shares of Inozyme Pharma by 46.9% in the 4th quarter. SG Americas Securities LLC now owns 21,236 shares of the company’s stock worth $90,000 after purchasing an additional 6,784 shares in the last quarter. Superstring Capital Management LP purchased a new stake in Inozyme Pharma in the fourth quarter worth approximately $528,000. Affinity Asset Advisors LLC boosted its stake in Inozyme Pharma by 36.7% in the fourth quarter. Affinity Asset Advisors LLC now owns 1,885,802 shares of the company’s stock worth $8,034,000 after buying an additional 505,950 shares in the last quarter. Eventide Asset Management LLC grew its position in Inozyme Pharma by 1.8% during the fourth quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock valued at $13,546,000 after acquiring an additional 54,837 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Inozyme Pharma by 1.4% during the first quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock worth $18,530,000 after acquiring an additional 33,998 shares in the last quarter. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Price Performance

Shares of NASDAQ:INZY remained flat at $5.74 during midday trading on Tuesday. 293,020 shares of the stock traded hands, compared to its average volume of 495,002. The company has a debt-to-equity ratio of 0.38, a current ratio of 14.05 and a quick ratio of 14.05. The stock’s 50 day simple moving average is $4.84 and its 200 day simple moving average is $5.21. The stock has a market cap of $355.08 million, a PE ratio of -4.19 and a beta of 1.53. Inozyme Pharma, Inc. has a 52-week low of $2.69 and a 52-week high of $7.80.

Inozyme Pharma (NASDAQ:INZY) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). As a group, sell-side analysts forecast that Inozyme Pharma, Inc. will post -1.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INZY shares. Bank of America cut their price objective on shares of Inozyme Pharma from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $23.00 price objective on shares of Inozyme Pharma in a research note on Wednesday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Inozyme Pharma in a report on Tuesday, July 2nd. Wells Fargo & Company started coverage on Inozyme Pharma in a report on Thursday, May 30th. They set an “overweight” rating and a $14.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Inozyme Pharma in a research note on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.00.

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.