Fintel reports that Pivotal bioVenture Partners Fund I has filed a 13D/A form with the SEC disclosing ownership of 3.21MM shares of Inozyme Pharma Inc (INZY). This represents 7.4% of the company.
In their previous filing dated April 28, 2022 they reported 2.66MM shares and 6.60% of the company, an increase in shares of 20.76% and an increase in total ownership of 0.80% (calculated as current – previous percent ownership).
Analyst Price Forecast Suggests 262.71% Upside
As of March 30, 2023, the average one-year price target for Inozyme Pharma is $19.55. The forecasts range from a low of $6.06 to a high of $42.00. The average price target represents an increase of 262.71% from its latest reported closing price of $5.39.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Inozyme Pharma is $0MM. The projected annual non-GAAP EPS is -$1.83.
What is the Fund Sentiment?
There are 68 funds or institutions reporting positions in Inozyme Pharma. This is a decrease of 11 owner(s) or 13.92% in the last quarter. Average portfolio weight of all funds dedicated to INZY is 0.04%, a decrease of 59.45%. Total shares owned by institutions decreased in the last three months by 3.42% to 29,941K shares. The put/call ratio of INZY is 0.63, indicating a bullish outlook.
What are Large Shareholders Doing?
Sofinnova Investments holds 3,655K shares representing 8.36% ownership of the company. No change in the last quarter.
Deep Track Capital holds 3,250K shares representing 7.43% ownership of the company. No change in the last quarter.
Adage Capital Partners Gp, L.l.c. holds 3,100K shares representing 7.09% ownership of the company. In it’s prior filing, the firm reported owning 2,597K shares, representing an increase of 16.24%. The firm decreased its portfolio allocation in INZY by 54.89% over the last quarter.
Rock Springs Capital Management holds 3,086K shares representing 7.06% ownership of the company. In it’s prior filing, the firm reported owning 2,808K shares, representing an increase of 9.02%. The firm decreased its portfolio allocation in INZY by 59.88% over the last quarter.
VR Adviser holds 2,710K shares representing 6.20% ownership of the company. No change in the last quarter.
Inozyme Pharma Background Information
(This description is provided by the company.)
Inozyme Pharma is a rare disease biopharmaceutical company developing novel therapeutics for the treatment of diseases of abnormal mineralization. Through our in-depth understanding of the biological pathways involved in mineralization, company is pursuing the development of therapeutics to address the underlying causes of these debilitating diseases. It is well established that two genes, ENPP1 and ABCC6, play key roles in a critical mineralization pathway and that defects in these genes lead to abnormal mineralization. Inozyme is initially focused on developing a novel therapy to treat the rare genetic diseases of ENPP1 and ABCC6 deficiencies.
This article originally appeared on Fintel
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