InflaRx (NASDAQ:IFRX) Trading Up 2.1% - Time to Buy?

InflaRx N.V. (NASDAQ:IFRX - Get Free Report)'s share price shot up 2.1% on Wednesday . The company traded as high as $0.90 and last traded at $0.89. 215,162 shares were traded during mid-day trading, a decline of 27% from the average session volume of 294,997 shares. The stock had previously closed at $0.88.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IFRX. Guggenheim raised their price target on InflaRx from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Raymond James Financial lowered InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 price objective on the stock. in a report on Thursday, May 29th. HC Wainwright reaffirmed a "buy" rating and set a $8.00 price objective on shares of InflaRx in a report on Friday, March 21st. Cantor Fitzgerald assumed coverage on InflaRx in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. Finally, Oppenheimer dropped their price objective on InflaRx from $6.00 to $3.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $6.60.

InflaRx Stock Down 1.7%

The stock has a fifty day moving average of $1.13 and a 200-day moving average of $1.53. The stock has a market cap of $59.08 million, a PE ratio of -1.07 and a beta of 1.29.

InflaRx (NASDAQ:IFRX - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.04. The company had revenue of $0.03 million for the quarter, compared to analysts' expectations of $0.03 million. Equities research analysts forecast that InflaRx N.V. will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On InflaRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC grew its holdings in shares of InflaRx by 33.9% during 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 last quarter. Two Sigma Securities LLC purchased a new stake in InflaRx in the 4th quarter valued at approximately $28,000. Geode Capital Management LLC boosted its holdings in InflaRx by 32.8% in the 4th quarter. Geode Capital Management LLC now owns 48,136 shares of the company's stock valued at $119,000 after purchasing an additional 11,900 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in InflaRx by 20.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 111,500 shares of the company's stock valued at $275,000 after purchasing an additional 19,000 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in InflaRx in the 4th quarter valued at approximately $51,000. Hedge funds and other institutional investors own 42.39% of the company's stock.

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.