683 Capital Management LLC Grows Position in InflaRx N.V. $IFRX

Key Points

• 683 Capital Management LLC increased its stake in InflaRx N.V. by 26.8%, now owning approximately 3.91% of the company, worth $2.68 million after acquiring an additional 555,000 shares.
• InflaRx's stock has risen 36.8%, with a current market cap of $107.41 million, and it opened at $1.60 on Tuesday, nearing its 52-week high of $2.82.
• Wall Street analysts have varied ratings on InflaRx, with a consensus rating of "Buy" and an average price target of $6.60, despite some recent downgrades.

683 Capital Management LLC boosted its position in shares of InflaRx N.V. (NASDAQ:IFRX - Free Report) by 26.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,625,000 shares of the company's stock after buying an additional 555,000 shares during the quarter. 683 Capital Management LLC owned 3.91% of InflaRx worth $2,678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of IFRX. Cubist Systematic Strategies LLC raised its holdings in shares of InflaRx by 33.9% in the first quarter. Cubist Systematic Strategies LLC now owns 30,053 shares of the company's stock worth $31,000 after buying an additional 7,616 shares during the period. Geode Capital Management LLC raised its holdings in shares of InflaRx by 32.8% in the fourth quarter. Geode Capital Management LLC now owns 48,136 shares of the company's stock worth $119,000 after buying an additional 11,900 shares during the period. XTX Topco Ltd purchased a new stake in shares of InflaRx in the first quarter worth approximately $38,000. DAFNA Capital Management LLC purchased a new stake in shares of InflaRx in the first quarter worth approximately $459,000. Finally, Northern Trust Corp raised its holdings in shares of InflaRx by 1,933.1% in the fourth quarter. Northern Trust Corp now owns 666,845 shares of the company's stock worth $1,647,000 after buying an additional 634,045 shares during the period. 42.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IFRX. Raymond James Financial lowered shares of InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 target price for the company. in a research note on Thursday, May 29th. Oppenheimer lowered their target price on shares of InflaRx from $6.00 to $3.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Finally, HC Wainwright began coverage on shares of InflaRx in a research note on Tuesday. They set a "buy" rating and a $6.00 target price for the company. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $6.20.

InflaRx Stock Up 5.1%

NASDAQ:IFRX traded up $0.08 during mid-day trading on Friday, reaching $1.65. The company's stock had a trading volume of 764,609 shares, compared to its average volume of 764,250. InflaRx N.V. has a 1 year low of $0.71 and a 1 year high of $2.82. The stock has a fifty day moving average of $0.96 and a 200-day moving average of $1.14. The firm has a market capitalization of $110.76 million, a PE ratio of -2.06 and a beta of 1.43.

InflaRx (NASDAQ:IFRX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.24) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.24). The business had revenue of $0.05 million during the quarter, compared to analysts' expectations of $0.02 million. On average, analysts expect that InflaRx N.V. will post -1.04 earnings per share for the current year.

InflaRx Company Profile

InflaRx N.V., a clinical-stage biopharmaceutical company, discovers and develops inhibitors using C5a technology in Germany and the United States. The company's C5a is an inflammatory mediator that is involved in the progression of a variety of autoimmune and other inflammatory diseases. Its lead product candidate is vilobelimab, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody, which completed the Phase III clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; for the treatment of anti-neutrophil cytoplasm antibody associated vasculitis, a rare and life-threatening autoimmune disease that is in Phase II trial; to treat pyoderma gangraenosum, a chronic inflammatory skin disorder that is in Phase IIa exploratory study; and for the treatment of PD-1/PD-L1 inhibitor resistant/refractory locally advanced or metastatic cutaneous squamous cell carcinoma that is in Phase II clinical development stage.