InflaRx (NASDAQ:IFRX) Announces Quarterly Earnings Results, Hits Estimates

InflaRx (NASDAQ:IFRX) released its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.16), Zacks reports. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.03 million.

InflaRx Price Performance

Shares of IFRX traded up $0.03 during mid-day trading on Wednesday, hitting $1.68. The company’s stock had a trading volume of 2,327,579 shares, compared to its average volume of 1,075,154. InflaRx has a fifty-two week low of $0.71 and a fifty-two week high of $2.82. The firm has a 50-day moving average price of $1.38 and a 200 day moving average price of $1.18. The stock has a market capitalization of $112.78 million, a price-to-earnings ratio of -2.18 and a beta of 1.38.

Institutional Trading of InflaRx

Institutional investors have recently made changes to their positions in the stock. Woodline Partners LP acquired a new stake in InflaRx in the first quarter valued at approximately $766,000. Adage Capital Partners GP L.L.C. bought a new position in InflaRx during the second quarter worth $262,000. Finally, Cubist Systematic Strategies LLC raised its position 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 buying an additional 7,616 shares during the last quarter. 42.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. HC Wainwright initiated coverage on shares of InflaRx in a report on Tuesday, September 2nd. They set a “buy” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of InflaRx in a report on Wednesday, November 5th. Wall Street Zen lowered InflaRx from a “hold” rating to a “sell” rating in a research note on Saturday. Guggenheim lifted their price objective on InflaRx from $10.00 to $22.00 and gave the stock a “buy” rating in a report on Monday. Finally, Raymond James Financial reissued an “outperform” rating on shares of InflaRx in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.60.

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.