InflaRx N.V. $IFRX Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its InflaRx position by 20.2%, selling 500,000 shares and retaining 1.975 million shares worth approximately $1.77 million, or 2.73% of the company.
• Analyst sentiment is generally positive: InflaRx has a consensus “Moderate Buy” rating and a $7.33 target price, with several firms recently raising their price targets.
• InflaRx shares opened at $2.29, compared with a 52-week range of $0.80 to $2.95. The company reported a quarterly loss of $0.11 per share, missing the $0.07-per-share consensus estimate.

Bank of America Corp DE trimmed its holdings in InflaRx N.V. (NASDAQ:IFRX - Free Report) by 20.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,975,000 shares of the company's stock after selling 500,000 shares during the period. Bank of America Corp DE owned 2.73% of InflaRx worth $1,766,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IFRX. Cubist Systematic Strategies LLC raised its stake in InflaRx by 33.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 30,053 shares of the company's stock valued at $31,000 after acquiring an additional 7,616 shares during the last quarter. Woodline Partners LP acquired a new stake in InflaRx during the 1st quarter worth approximately $766,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of InflaRx in the 2nd quarter valued at approximately $262,000. Squarepoint Ops LLC grew its stake in shares of InflaRx by 29.1% in the 3rd quarter. Squarepoint Ops LLC now owns 188,523 shares of the company's stock valued at $253,000 after purchasing an additional 42,489 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in shares of InflaRx in the third quarter valued at approximately $214,000. Institutional investors and hedge funds own 42.39% of the company's stock.

Analyst Ratings Changes

IFRX has been the subject of several analyst reports. Wall Street Zen upgraded InflaRx from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Raymond James Financial upgraded shares of InflaRx from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $7.00 to $9.00 in a research report on Wednesday, May 13th. HC Wainwright boosted their price objective on shares of InflaRx from $6.00 to $8.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Cantor Fitzgerald upped their price objective on shares of InflaRx from $4.00 to $6.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of InflaRx in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, InflaRx has a consensus rating of "Moderate Buy" and a consensus target price of $7.33.

InflaRx Stock Performance

InflaRx stock opened at $2.29 on Thursday. The company has a market cap of $337.48 million, a P/E ratio of -3.95 and a beta of 2.52. InflaRx N.V. has a one year low of $0.80 and a one year high of $2.95. The business has a fifty day moving average of $2.00 and a two-hundred day moving average of $1.69.

InflaRx (NASDAQ:IFRX - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.04). Sell-side analysts predict that InflaRx N.V. will post -0.31 EPS for the current year.

InflaRx Profile

InflaRx N.V. is a clinical‐stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapies targeting the complement system, with an emphasis on the complement‐1a (C5a) pathway. The company's lead product candidate, vilobelimab (IFX‐1), is a monoclonal antibody designed to selectively inhibit C5a, a potent pro‐inflammatory peptide implicated in a range of autoimmune and inflammatory diseases. InflaRx seeks to address high‐unmet medical needs by advancing treatments for conditions such as hidradenitis suppurativa, pyoderma gangrenosum and other rare and severe inflammatory disorders.

Vilobelimab has been evaluated in multiple Phase II trials, demonstrating proof of concept in reducing key inflammatory markers and improving clinical outcomes.

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