Inozyme Pharma Inc. (NASDAQ: INZY) stock fell -1.83% on Friday to $4.30 against a previous-day closing price of $4.38. With 1.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.65 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.4100 whereas the lowest price it dropped to was $4.2400. The 52-week range on INZY shows that it touched its highest point at $7.33 and its lowest point at $0.99 during that stretch. It currently has a 1-year price target of $20.33. Beta for the stock currently stands at 0.99.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of INZY was down-trending over the past week, with a drop of -10.79%, but this was down by -9.47% over a month. Three-month performance dropped to -25.99% while six-month performance rose 52.21%. The stock gained 33.96% in the past year, while it has gained 309.52% so far this year. A look at the trailing 12-month EPS for INZY yields -1.54 with Next year EPS estimates of -1.45. For the next quarter, that number is -0.32. This implies an EPS growth rate of 26.10% for this year and -4.30% for next year.
Float and Shares Shorts:
At present, 61.73 million INZY shares are outstanding with a float of 61.33 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.69 million, which was 2.74% higher than short shares on Jul 30, 2023. In addition to INFY as the firm’s Infosys Limited, INCY serves as its Incyte Corporation.
Through their ownership of 84.80% of INZY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.02% of INZY, in contrast to 27.85% held by mutual funds. Shares owned by individuals account for 11.24%. As the largest shareholder in INZY with 6.89% of the stake, Adage Capital Management LP holds 4,250,000 shares worth 4,250,000. A second-largest stockholder of INZY, Rock Springs Capital Management L, holds 3,428,084 shares, controlling over 5.55% of the firm’s shares. Millennium Management LLC is the third largest shareholder in INZY, holding 2,206,158 shares or 3.57% stake. With a 3.99% stake in INZY, the Fidelity Select Port. – Biotechno is the largest stakeholder. A total of 2,465,187 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.14% of INZY stock, is the second-largest Mutual Fund holder. It holds 1,320,785 shares valued at 6.47 million. iShares Russell 2000 ETF holds 1.26% of the stake in INZY, owning 778,759 shares worth 3.82 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, INZY reported revenue of $0.00 and operating income of -$15.39M. The EBITDA in the recently reported quarter was -$15.21M and diluted EPS was -$0.38.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for INZY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With INZY analysts setting a high price target of $40.00 and a low target of $12.00, the average target price over the next 12 months is $20.33. Based on these targets, INZY could surge 830.23% to reach the target high and rise by 179.07% to reach the target low. Reaching the average price target will result in a growth of 372.79% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded INZY stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 1,666,666 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,472,243 while 0 shares were sold.