InflaRx (NASDAQ:IFRX) Trading Down 2.3% – Here’s Why

InflaRx N.V. (NASDAQ:IFRX) was down 2.3% during trading on Monday . The stock traded as low as $1.68 and last traded at $1.70. 928,388 shares changed hands during trading, a decline of 28% from the average daily volume of 1,288,831 shares. The stock had previously closed at $1.74.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of InflaRx in a research report on Wednesday, June 24th. Oppenheimer began coverage on shares of InflaRx in a research note on Friday, April 24th. They set an “outperform” rating and a $5.00 price target for the company. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of InflaRx in a report on Tuesday, April 21st. Raymond James Financial raised shares of InflaRx from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $7.00 to $9.00 in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald raised their price objective on shares of InflaRx from $2.00 to $4.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.00.

InflaRx Stock Down 2.3%

The business has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $1.49. The firm has a market cap of $122.89 million, a PE ratio of -2.39 and a beta of 2.44.

InflaRx (NASDAQ:IFRX) last issued its earnings results on Wednesday, May 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.08. Equities analysts forecast that InflaRx N.V. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On InflaRx

A number of hedge funds have recently added to or reduced their stakes in IFRX. Bank of America Corp DE bought a new position in InflaRx in the third quarter worth approximately $3,316,000. Suvretta Capital Management LLC raised its position in InflaRx by 22.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,933,910 shares of the company’s stock valued at $8,013,000 after purchasing an additional 1,450,000 shares in the last quarter. 683 Capital Management LLC lifted its holdings in shares of InflaRx by 47.3% in the 4th quarter. 683 Capital Management LLC now owns 3,315,000 shares of the company’s stock worth $3,348,000 after buying an additional 1,065,000 shares during the period. Woodline Partners LP purchased a new stake in shares of InflaRx in the 1st quarter worth $766,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of InflaRx during the 2nd quarter worth $262,000. 42.39% of the stock is currently owned by institutional investors.

InflaRx Company Profile

InflaRx N.V. is a clinical‐stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapies targeting the complement system, with an emphasis on the complement‐1a (C5a) pathway. The company’s lead product candidate, vilobelimab (IFX‐1), is a monoclonal antibody designed to selectively inhibit C5a, a potent pro‐inflammatory peptide implicated in a range of autoimmune and inflammatory diseases. InflaRx seeks to address high‐unmet medical needs by advancing treatments for conditions such as hidradenitis suppurativa, pyoderma gangrenosum and other rare and severe inflammatory disorders.

Vilobelimab has been evaluated in multiple Phase II trials, demonstrating proof of concept in reducing key inflammatory markers and improving clinical outcomes.