Inozyme Pharma Inc. [INZY] Shares Fall -4.00 on Thursday


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Inozyme Pharma Inc. shares valued at $1,429,388 were purchased by Hopfner Robert Lorne on May 12. At $6.25 per share, Hopfner Robert Lorne acquired 228,702 shares. The insider’s holdings grew to 3,661,518 shares worth approximately $21.97 million following the completion of this transaction.

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Also, Hopfner Robert Lorne purchased 219,230 shares, netting a total of over 1,420,610 in proceeds. Following the buying of shares at $6.48 each, the insider now holds 3,432,816 shares.

Before that, Hopfner Robert Lorne had added 344,592 shares to its account. In a trade valued at $1,563,724, the Director bought Inozyme Pharma Inc. shares for $4.54 each. Upon closing the transaction, the insider’s holdings increased to 344,592 shares, worth approximately $19.28 million.

Analyzing INZY Stock Performance

On Thursday, Inozyme Pharma Inc. [NASDAQ: INZY] plunged -4.00% to $6.00. The stock’s lowest price that day was $5.76, but it reached a high of $6.30 in the same session. During the last five days, there has been a drop of approximately -6.25%. Over the course of the year, Inozyme Pharma Inc. shares have jumped approximately 471.43%. Shares of the company reached a 52-week high of $7.24 on 05/16/23 and a 52-week low of $1.11 on 01/03/23. A 50-day SMA is recorded $5.40, while a 200-day SMA reached $3.08. Nevertheless, trading volume fell to 0.52 million shares from 0.42 million shares the previous day.

Support And Resistance Levels for Inozyme Pharma Inc. (INZY)

According to the 24-hour chart, there is a support level at 5.74, which, if violated, would cause prices to drop to 5.48. In the upper region, resistance lies at 6.28. The next price resistance is at 6.56. RSI (Relative Strength Index) is 49.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.14, which suggests the price will decrease in the coming days. Percent R is at 83.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Inozyme Pharma Inc. subject to short interest?

Stocks of Inozyme Pharma Inc. saw a sharp steep in short interest on May 14, 2023 dropping by -0.8 million shares to 0.61 million. Data from Yahoo Finance shows that the short interest on Apr 13, 2023 was 1.41 million shares. A decline of -132.55% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.18 of the overall float, the days-to-cover ratio (short ratio) decline to 1.18.

Which companies own the most shares of Inozyme Pharma Inc. (INZY)?

According to Adage Capital Management LP filings, the company currently owns 4,265,138 shares, which is about 9.76% of the total INZY shares outstanding. The investor’s shares have appreciated by 1,165,000 from its previous 13-F filing of 3100138.0 shares. Rock Springs Capital Management L acquire a 4.18% interest valued at $17.71 million while Sphera Funds Management Ltd. purchased a 156,800 stake. A total of 1,393,139 shares of Inozyme Pharma Inc. were bought by Millennium Management LLC during the quarter, and -862,685 were sold by CHI Advisors LLC. In its current portfolio, The Vanguard Group, Inc. holds 1,317,874 shares valued at $7.26 million.

In terms of Inozyme Pharma Inc. share price expectations, FactSet research, analysts set an average price target of $20.83 in the next 12 months, up nearly 188.0% from the previous closing price of $6.25. Analysts anticipate Inozyme Pharma Inc. stock to reach $40.00 by 2023, with the lowest price target being $11.00. In spite of this, 7 analysts ranked Inozyme Pharma Inc. stock as a Buy at the end of 2023.


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