abrdn plc Invests $472,000 in Inozyme Pharma, Inc. (NASDAQ:INZY)

abrdn plc purchased a new stake in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 170,522 shares of the company’s stock, valued at approximately $472,000.

Several other hedge funds have also recently made changes to their positions in INZY. The Manufacturers Life Insurance Company raised its stake in shares of Inozyme Pharma by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,427 shares of the company’s stock worth $96,000 after buying an additional 2,690 shares during the period. Jane Street Group LLC boosted its position in shares of Inozyme Pharma by 7.5% during the 3rd quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock valued at $259,000 after acquiring an additional 3,443 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in shares of Inozyme Pharma by 51.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,000 shares of the company’s stock valued at $105,000 after buying an additional 6,800 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Inozyme Pharma by 31.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock valued at $151,000 after purchasing an additional 6,851 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Inozyme Pharma during the 3rd quarter worth about $64,000. 88.30% of the stock is owned by hedge funds and other institutional investors.

Inozyme Pharma Price Performance

Inozyme Pharma stock opened at $1.29 on Wednesday. Inozyme Pharma, Inc. has a 52-week low of $1.24 and a 52-week high of $7.80. The company has a quick ratio of 7.68, a current ratio of 7.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $82.87 million, a price-to-earnings ratio of -0.83 and a beta of 1.29. The company has a fifty day simple moving average of $2.24 and a 200-day simple moving average of $3.85.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on INZY shares. Piper Sandler lowered their price objective on shares of Inozyme Pharma from $43.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 price objective on shares of Inozyme Pharma in a research report on Wednesday, November 6th. Raymond James began coverage on shares of Inozyme Pharma in a report on Thursday, December 12th. They set an “outperform” rating and a $26.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, HC Wainwright raised their price objective on shares of Inozyme Pharma from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inozyme Pharma currently has a consensus rating of “Buy” and a consensus target price of $18.33.

About Inozyme Pharma

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.