InflaRx N.V. (NASDAQ:IFRX) Sees Large Decrease in Short Interest

Key Points

• InflaRx N.V. experienced a significant 50.1% decrease in short interest, dropping from 908,600 shares to 453,200 shares as of August 31st.
• Analysts have set new price targets for InflaRx, with Oppenheimer lowering their target from $6.00 to $3.00, while HC Wainwright set a target of $6.00, reflecting a consensus rating of "Buy".
• The company has a market cap of $84.59 million and reported a quarterly revenue of $0.05 million, meeting analysts' expectations.

InflaRx N.V. (NASDAQ:IFRX - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 453,200 shares, a decrease of 50.1% from the August 15th total of 908,600 shares. Based on an average daily trading volume, of 491,400 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 491,400 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On InflaRx

Large investors have recently modified their holdings of the company. 683 Capital Management LLC grew its holdings in 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 in the last quarter. Woodline Partners LP bought a new stake in shares of InflaRx during the 1st quarter valued at about $766,000. Northern Trust Corp boosted 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 acquiring an additional 634,045 shares during the last quarter. DAFNA Capital Management LLC bought a new stake in shares of InflaRx during the 1st quarter valued at about $459,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of InflaRx during the 2nd quarter valued at about $262,000. 42.39% of the stock is currently owned by institutional investors.

InflaRx Stock Performance

NASDAQ:IFRX traded down $0.05 during mid-day trading on Friday, hitting $1.32. The stock had a trading volume of 167,206 shares, compared to its average volume of 470,815. InflaRx has a twelve month low of $0.71 and a twelve month high of $2.82. The stock has a market cap of $88.62 million, a price-to-earnings ratio of -1.65 and a beta of 1.43. The company's 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.12.

InflaRx (NASDAQ:IFRX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). The business had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.02 million. As a group, equities analysts forecast that InflaRx will post -1.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Oppenheimer cut their price target on shares of InflaRx from $6.00 to $3.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. HC Wainwright initiated coverage on shares of InflaRx in a research report on Tuesday, September 2nd. They issued a "buy" rating and a $6.00 price target on the stock. Finally, Raymond James Financial cut shares of 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. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $6.20.

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.