InflaRx (NASDAQ:IFRX) Shares Down 5.1% - What's Next?

Key Points

• InflaRx's stock declined 5.1%, trading at $1.29, with a notable drop in trading volume, down 81% from the average.
• Recent analysts' reports have resulted in varied target price cuts, with Oppenheimer lowering theirs to $3.00, while HC Wainwright started coverage with a $6.00 target price.
• Despite the decrease in stock price, the consensus rating remains a "Buy", with the company expected to post -1.04 earnings per share for the current fiscal year.

InflaRx N.V. (NASDAQ:IFRX - Get Free Report) was down 5.1% on Thursday . The stock traded as low as $1.28 and last traded at $1.29. Approximately 191,256 shares traded hands during trading, a decline of 81% from the average daily volume of 1,010,125 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IFRX shares. Oppenheimer cut their target price on InflaRx from $6.00 to $3.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Raymond James Financial lowered InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 target price on the stock. in a research report on Thursday, May 29th. Finally, HC Wainwright started coverage on InflaRx in a research report on Tuesday, September 2nd. They set a "buy" rating and a $6.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $6.20.

InflaRx Trading Down 5.1%

The business's fifty day moving average price is $1.11 and its 200 day moving average price is $1.13. The firm has a market capitalization of $86.60 million, a price-to-earnings ratio of -1.61 and a beta of 1.43.

InflaRx (NASDAQ:IFRX - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.24) EPS for the quarter, meeting analysts' consensus estimates of ($0.24). The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.02 million. As a group, sell-side analysts forecast that InflaRx N.V. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InflaRx

Institutional investors have recently bought and sold shares of the company. DAFNA Capital Management LLC acquired a new position in InflaRx in the 1st quarter valued at $459,000. 683 Capital Management LLC grew its stake in shares of InflaRx by 26.8% during the 1st quarter. 683 Capital Management LLC now owns 2,625,000 shares of the company's stock worth $2,678,000 after purchasing an additional 555,000 shares during the period. XTX Topco Ltd acquired a new position in shares of InflaRx during the 1st quarter worth $38,000. Woodline Partners LP acquired a new position in shares of InflaRx during the 1st quarter worth $766,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of InflaRx during the 2nd quarter worth $262,000. 42.39% of the stock is owned by institutional investors and hedge funds.

About InflaRx

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.