Eventide Asset Management LLC Purchases 198,216 Shares of Inozyme Pharma, Inc. (NASDAQ:INZY)

Eventide Asset Management LLC raised its position in shares of Inozyme Pharma, Inc. (NASDAQ:INZY - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,134,436 shares of the company's stock after acquiring an additional 198,216 shares during the quarter. Eventide Asset Management LLC owned approximately 6.44% of Inozyme Pharma worth $21,623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INZY. Deerfield Management Company L.P. Series C bought a new stake in shares of Inozyme Pharma during the second quarter valued at approximately $52,000. Meeder Asset Management Inc. bought a new stake in shares of Inozyme Pharma during the 2nd quarter valued at $68,000. Values First Advisors Inc. purchased a new stake in shares of Inozyme Pharma in the 2nd quarter worth about $76,000. SG Americas Securities LLC bought a new position in shares of Inozyme Pharma in the 3rd quarter worth about $81,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Inozyme Pharma during the 2nd quarter valued at about $84,000. Hedge funds and other institutional investors own 88.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INZY shares. Jefferies Financial Group restated a "buy" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Inozyme Pharma in a report on Tuesday, August 13th. Stifel Nicolaus initiated coverage on Inozyme Pharma in a research report on Thursday, September 12th. They set a "buy" rating and a $16.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $23.00 target price on shares of Inozyme Pharma in a report on Wednesday, November 6th. Wedbush reaffirmed an "outperform" rating and issued a $12.00 price target (down previously from $15.00) on shares of Inozyme Pharma in a research report on Tuesday, November 5th. Finally, HC Wainwright reissued a "buy" rating and set a $14.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inozyme Pharma currently has a consensus rating of "Buy" and an average target price of $15.71.

Inozyme Pharma Stock Performance

Shares of NASDAQ:INZY traded down $0.01 during midday trading on Friday, reaching $2.71. 364,835 shares of the company's stock traded hands, compared to its average volume of 424,316. Inozyme Pharma, Inc. has a one year low of $2.56 and a one year high of $7.80. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.68 and a current ratio of 7.68. The stock has a 50 day moving average of $4.35 and a 200 day moving average of $4.76. The company has a market cap of $174.09 million, a price-to-earnings ratio of -1.74 and a beta of 1.54.

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

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.