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

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on IFRX. Cantor Fitzgerald assumed coverage on InflaRx in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. Raymond James Financial downgraded InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 target price on the stock. in a research note on Thursday, May 29th. Guggenheim upped their target price on InflaRx from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of InflaRx in a research note on Friday, March 21st. Finally, Oppenheimer lowered their target price on InflaRx from $6.00 to $3.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Five equities research 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 $6.60.

InflaRx Trading Up 0.4%

The business has a fifty day moving average of $1.14 and a two-hundred day moving average of $1.54. The company has a market cap of $60.35 million, a price-to-earnings ratio of -1.10 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 analysts' consensus estimates of ($0.18) by $0.04. The firm had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. On average, research analysts forecast that InflaRx N.V. will post -1.04 EPS for the current fiscal year.

Institutional Trading of InflaRx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC acquired a new position in InflaRx in the 4th quarter valued at about $28,000. Walleye Capital LLC purchased a new stake in shares of InflaRx during the 4th quarter worth approximately $51,000. Cubist Systematic Strategies LLC purchased a new stake in shares of InflaRx during the 4th quarter worth approximately $55,000. XTX Topco Ltd purchased a new stake in InflaRx in the 1st quarter valued at approximately $38,000. Finally, Geode Capital Management LLC lifted its stake in shares of InflaRx by 32.8% during the 4th quarter. Geode Capital Management LLC now owns 48,136 shares of the company's stock worth $119,000 after purchasing an additional 11,900 shares during the period. 42.39% of the stock is currently owned by institutional investors and hedge funds.

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.