Raymond James Financial Inc. Acquires New Position in Inozyme Pharma, Inc. (NASDAQ:INZY)

Raymond James Financial Inc. bought a new position in shares of Inozyme Pharma, Inc. (NASDAQ:INZY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 74,165 shares of the company’s stock, valued at approximately $205,000.

Several other large investors also recently bought and sold shares of INZY. Jane Street Group LLC raised its holdings in shares of Inozyme Pharma by 7.5% in the third quarter. Jane Street Group LLC now owns 49,460 shares of the company’s stock worth $259,000 after buying an additional 3,443 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Inozyme Pharma by 31.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 28,928 shares of the company’s stock worth $151,000 after acquiring an additional 6,851 shares during the last quarter. Palumbo Wealth Management LLC lifted its position in Inozyme Pharma by 52.3% during the 4th quarter. Palumbo Wealth Management LLC now owns 23,281 shares of the company’s stock worth $64,000 after acquiring an additional 7,995 shares during the period. Virtu Financial LLC purchased a new stake in Inozyme Pharma during the 3rd quarter valued at about $64,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Inozyme Pharma during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 88.30% of the company’s stock.

Inozyme Pharma Stock Performance

Shares of NASDAQ INZY opened at $0.89 on Friday. The company has a market capitalization of $56.92 million, a PE ratio of -0.57 and a beta of 1.39. 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 company’s fifty day moving average price is $1.10 and its 200 day moving average price is $2.54. Inozyme Pharma, Inc. has a 1 year low of $0.72 and a 1 year high of $6.24.

Wall Street Analyst Weigh In

A number of research firms recently commented on INZY. Piper Sandler decreased their target price on Inozyme Pharma from $30.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective on shares of Inozyme Pharma in a research note on Tuesday. Raymond James cut their price objective on shares of Inozyme Pharma from $24.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 12th. Wedbush restated an “outperform” rating and set a $7.00 target price (down from $12.00) on shares of Inozyme Pharma in a research report on Monday, March 10th. Finally, Wells Fargo & Company cut their price target on Inozyme Pharma from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.63.

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.