InflaRx (NASDAQ:IFRX) Trading 2.8% Higher - Here's What Happened

Key Points

• InflaRx N.V. shares rose by 2.8% during trading, closing at $0.91 after trading as high as $0.95, although trading volume declined by 20% from average levels.
• Analyst ratings are mixed, with Oppenheimer and Raymond James lowering their price targets significantly, while Cantor Fitzgerald maintains an "overweight" rating with a $10.00 target price.
• InflaRx reported a quarterly EPS of ($0.14), which was better than the consensus estimate of ($0.18), and has a market cap of $60.76 million.

InflaRx N.V. (NASDAQ:IFRX - Get Free Report)'s share price shot up 2.8% during trading on Thursday . The stock traded as high as $0.95 and last traded at $0.91. 284,307 shares traded hands during trading, a decline of 20% from the average session volume of 357,186 shares. The stock had previously closed at $0.88.

Analysts Set New Price Targets

Several research firms have recently commented on IFRX. Raymond James Financial cut InflaRx from a "strong-buy" rating to an "outperform" rating and set a $2.00 target price for the company. in a research note on Thursday, May 29th. Cantor Fitzgerald initiated coverage on InflaRx in a research report on Tuesday, April 29th. They set an "overweight" rating and a $10.00 price target on the stock. Finally, Oppenheimer dropped their price target 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 research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.60.

InflaRx Price Performance

The company has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $1.35. The stock has a market capitalization of $60.82 million, a price-to-earnings ratio of -1.10 and a beta of 1.29.

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 during the quarter, compared to analyst estimates of $0.03 million. Research analysts anticipate that InflaRx N.V. will post -1.04 EPS for the current year.

Institutional Investors Weigh In On InflaRx

Several large investors have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC acquired a new stake in InflaRx in the second quarter worth $65,000. Woodline Partners LP acquired a new position in shares of InflaRx during the first quarter valued at $766,000. 683 Capital Management LLC increased its holdings in shares of InflaRx by 26.8% during the first quarter. 683 Capital Management LLC now owns 2,625,000 shares of the company's stock valued at $2,678,000 after purchasing an additional 555,000 shares during the period. Cubist Systematic Strategies LLC increased 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 valued at $31,000 after purchasing an additional 7,616 shares during the period. Finally, DAFNA Capital Management LLC acquired a new position in shares of InflaRx during the first quarter valued at $459,000. 42.39% of the stock is 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.