InflaRx (NASDAQ:IFRX) Shares Up 2.1% - Here's Why

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

Analyst Ratings Changes

IFRX has been the topic of a number of recent analyst reports. Guggenheim upped their target price on InflaRx from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. HC Wainwright reaffirmed a "buy" rating and issued a $8.00 target price on shares of InflaRx in a research report on Friday, March 21st. Cantor Fitzgerald initiated coverage on InflaRx in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $10.00 target price on the stock. 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, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $6.60.

InflaRx Stock Up 2.1%

The company has a 50 day moving average of $1.16 and a two-hundred day moving average of $1.55. The firm has a market cap of $60.02 million, a P/E ratio of -1.09 and a beta of 1.29.

InflaRx (NASDAQ:IFRX - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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. Research analysts expect that InflaRx N.V. will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On InflaRx

Hedge funds have recently bought and sold shares of the business. Woodline Partners LP acquired a new position in InflaRx in the 1st quarter worth about $766,000. Raymond James Financial Inc. acquired a new position in InflaRx in the 4th quarter worth about $1,576,000. Northern Trust Corp increased its position in InflaRx by 1,933.1% in the 4th quarter. Northern Trust Corp now owns 666,845 shares of the company's stock worth $1,647,000 after purchasing an additional 634,045 shares during the last quarter. 683 Capital Management LLC increased its position in InflaRx by 26.8% in 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 last quarter. Finally, DAFNA Capital Management LLC acquired a new position in InflaRx in the 1st quarter worth about $459,000. 42.39% of the stock is owned by hedge funds and other institutional investors.

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.

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