Bank of New York Mellon Corp Grows Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

Bank of New York Mellon Corp raised its position in Inozyme Pharma, Inc. (NASDAQ:INZY) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,896 shares of the company’s stock after acquiring an additional 26,464 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.31% of Inozyme Pharma worth $851,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INZY. Eventide Asset Management LLC increased its holdings in Inozyme Pharma by 1.8% in the fourth quarter. Eventide Asset Management LLC now owns 3,179,837 shares of the company’s stock valued at $13,546,000 after buying an additional 54,837 shares during the last quarter. Affinity Asset Advisors LLC increased its holdings in shares of Inozyme Pharma by 40.1% in the 1st quarter. Affinity Asset Advisors LLC now owns 2,642,519 shares of the company’s stock valued at $20,242,000 after acquiring an additional 756,717 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Inozyme Pharma by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 2,419,020 shares of the company’s stock valued at $18,530,000 after acquiring an additional 33,998 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Inozyme Pharma by 52.2% during the 1st quarter. Kennedy Capital Management LLC now owns 437,657 shares of the company’s stock worth $3,352,000 after acquiring an additional 150,120 shares in the last quarter. Finally, Superstring Capital Management LP purchased a new stake in Inozyme Pharma during the fourth quarter worth approximately $528,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on INZY. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Inozyme Pharma in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $23.00 price target on shares of Inozyme Pharma in a research note on Tuesday, August 6th. Wells Fargo & Company started coverage on shares of Inozyme Pharma in a research note on Thursday, May 30th. They issued an “overweight” rating and a $14.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and set a $17.00 target price (up previously from $16.00) on shares of Inozyme Pharma in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus initiated coverage on Inozyme Pharma in a report on Thursday, September 12th. They issued a “buy” rating and a $16.00 target price for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.14.

Inozyme Pharma Price Performance

Shares of INZY opened at $5.73 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 9.84 and a current ratio of 9.84. Inozyme Pharma, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $7.80. The firm has a 50-day simple moving average of $5.29 and a 200-day simple moving average of $5.16. The company has a market capitalization of $354.43 million, a price-to-earnings ratio of -4.18 and a beta of 1.52.

Inozyme Pharma (NASDAQ:INZY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). On average, equities research analysts anticipate that Inozyme Pharma, Inc. will post -1.67 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.