Inozyme Pharma, Inc. (NASDAQ:INZY – Get Rating) was the target of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 267,000 shares, a decrease of 18.8% from the July 31st total of 328,800 shares. Approximately 1.2% of the company's shares are short sold. Based on an average daily volume of 180,100 shares, the short-interest ratio is presently 1.5 days.
Inozyme Pharma Stock Down 0.7 %
Shares of NASDAQ:INZY traded down $0.02 on Wednesday, hitting $3.03. 1,072 shares of the company traded hands, compared to its average volume of 70,788. The stock has a 50 day simple moving average of $4.11 and a 200-day simple moving average of $4.43. The company has a market cap of $121.65 million, a PE ratio of -1.21 and a beta of 0.09. Inozyme Pharma has a 52 week low of $3.01 and a 52 week high of $17.55.
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Several analysts have commented on INZY shares. Wedbush lowered their price objective on shares of Inozyme Pharma from $25.00 to $23.00 and set an "outperform" rating for the company in a report on Tuesday, May 10th. Jefferies Financial Group assumed coverage on shares of Inozyme Pharma in a report on Thursday, May 26th. They set a "hold" rating and a $5.00 target price on the stock.
Hedge Funds Weigh In On Inozyme Pharma
Several hedge funds and other institutional investors have recently bought and sold shares of INZY. Adage Capital Partners GP L.L.C. lifted its position in Inozyme Pharma by 8.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,599,028 shares of the company's stock valued at $10,905,000 after purchasing an additional 131,200 shares in the last quarter. Northern Trust Corp raised its holdings in Inozyme Pharma by 4.0% during the fourth quarter. Northern Trust Corp now owns 120,762 shares of the company's stock valued at $823,000 after acquiring an additional 4,661 shares during the period. Suvretta Capital Management LLC lifted its position in shares of Inozyme Pharma by 2.7% in the fourth quarter. Suvretta Capital Management LLC now owns 1,013,216 shares of the company's stock valued at $6,910,000 after acquiring an additional 26,816 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Inozyme Pharma during the second quarter worth about $53,000. Finally, Citigroup Inc. raised its stake in Inozyme Pharma by 241.6% during the 1st quarter. Citigroup Inc. now owns 12,517 shares of the company's stock valued at $51,000 after purchasing an additional 8,853 shares during the period.About Inozyme Pharma
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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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