INZY - Inozyme jumps 16% to hit eight-month high after insider purchases

2023-03-31 12:05:43 ET

• Shares of clinical-stage biotech Inozyme Pharma ( NASDAQ: INZY ) rose ~16% around Friday noon to reach the highest level since August after the company director Robert Hopfner disclosed a series of insider purchases worth more than $2M.
• About 1.6M company shares have changed hands so far, higher than the 65-day average of ~1.5M.
• According to the SEC filings submitted on Wednesday and Thursday, Hopfner has raised his stake at Inozyme ( INZY ) to 3.2M shares after buying ~207.8K and ~344.5K company stock at $4.05 and $4.54 apiece, respectively.
• The transactions conducted on Monday and Wednesday were valued at $841.1K and $1.6M, respectively.
• Read: Seeking Alpha contributor Jonathan Faison issued a Buy rating on Inozyme ( INZY ) early this year, citing important data readouts expected from the company in H2 2023.

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