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

Shares of InflaRx N.V. (NASDAQ:IFRX - Get Free Report) traded up 2.1% during mid-day trading on Wednesday . The company traded as high as $0.90 and last traded at $0.89. 215,162 shares changed hands 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 Analyst Weigh In

A number of equities analysts recently issued reports on the company. Guggenheim raised 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. Raymond James Financial lowered InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 price objective for the company. in a research note on Thursday, May 29th. Cantor Fitzgerald initiated coverage on InflaRx in a research note on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $8.00 price objective on shares of InflaRx in a research note on Friday, March 21st. Finally, Oppenheimer reduced their price objective on InflaRx from $6.00 to $3.00 and set an "outperform" rating for the company 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.com, the company has an average rating of "Buy" and an average target price of $6.60.

InflaRx Trading Down 1.7%

The firm has a market capitalization of $59.08 million, a price-to-earnings ratio of -1.07 and a beta of 1.29. The company has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $1.52.

InflaRx (NASDAQ:IFRX - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04. The company had revenue of $0.03 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities research analysts expect that InflaRx N.V. will post -1.04 earnings per share for the current year.

Institutional Trading of InflaRx

Several institutional investors have recently made changes to their positions in the company. 683 Capital Management LLC raised its position 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 valued at $2,678,000 after buying an additional 555,000 shares during the period. Woodline Partners LP purchased a new stake in shares of InflaRx during the 1st quarter valued at approximately $766,000. Northern Trust Corp raised its position in shares of InflaRx by 1,933.1% during the 4th quarter. Northern Trust Corp now owns 666,845 shares of the company's stock valued at $1,647,000 after buying an additional 634,045 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of InflaRx during the 4th quarter valued at approximately $1,576,000. Finally, DAFNA Capital Management LLC purchased a new stake in InflaRx in the first quarter valued at approximately $459,000. 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.