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

InflaRx N.V. (NASDAQ:IFRX - Get Free Report) shares shot 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 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 brokerages have issued reports on IFRX. HC Wainwright restated a "buy" rating and set a $8.00 target price on shares of InflaRx in a report on Friday, March 21st. Oppenheimer cut 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. Guggenheim lifted their price objective on InflaRx from $7.00 to $10.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Raymond James Financial cut 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. Finally, Cantor Fitzgerald began coverage on InflaRx in a report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price objective on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $6.60.

InflaRx Price Performance

The stock has a market capitalization of $60.42 million, a P/E ratio of -1.10 and a beta of 1.29. The company's 50-day simple moving average is $1.16 and its 200-day simple moving average is $1.55.

InflaRx (NASDAQ:IFRX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $0.03 million. On average, analysts forecast that InflaRx N.V. will post -1.04 earnings per share for the current fiscal year.

Institutional Trading of InflaRx

Institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC bought a new position in InflaRx in the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC grew its stake in 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 purchasing an additional 7,616 shares during the period. XTX Topco Ltd acquired a new stake in InflaRx in the first quarter valued at approximately $38,000. Walleye Capital LLC acquired a new stake in InflaRx in the fourth quarter valued at approximately $51,000. Finally, Geode Capital Management LLC grew its stake in InflaRx by 32.8% in the fourth quarter. Geode Capital Management LLC now owns 48,136 shares of the company's stock valued at $119,000 after acquiring an additional 11,900 shares during the period. 42.39% of the stock is currently owned by 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.