Zacks Investment Research Downgrades Inflarx (NASDAQ:IFRX) to Hold

Inflarx (NASDAQ:IFRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, reports.

According to Zacks, “InflaRx N.V. is a clinical-stage biopharmaceutical company. It focused on applying its proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a. InflaRx N.V. is based in Germany. “

NASDAQ IFRX traded up $0.12 on Tuesday, hitting $4.19. The company’s stock had a trading volume of 6,853 shares, compared to its average volume of 401,215. Inflarx has a 1-year low of $2.17 and a 1-year high of $53.10. The company’s 50-day moving average is $3.74 and its 200 day moving average is $3.00. The firm has a market cap of $105.93 million, a PE ratio of -2.99 and a beta of -1.16.

Inflarx (NASDAQ:IFRX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.58) by ($0.04). As a group, research analysts expect that Inflarx will post -2.27 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in IFRX. A.R.T. Advisors LLC raised its holdings in shares of Inflarx by 145.8% in the 2nd quarter. A.R.T. Advisors LLC now owns 29,162 shares of the company’s stock worth $92,000 after acquiring an additional 17,300 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Inflarx by 23.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 84,863 shares of the company’s stock valued at $268,000 after buying an additional 15,962 shares during the period. Atria Investments LLC bought a new stake in Inflarx during the second quarter valued at approximately $297,000. Citadel Advisors LLC grew its position in Inflarx by 5.1% during the second quarter. Citadel Advisors LLC now owns 99,935 shares of the company’s stock valued at $316,000 after buying an additional 4,840 shares during the period. Finally, Millennium Management LLC increased its holdings in Inflarx by 2,102.2% during the third quarter. Millennium Management LLC now owns 160,521 shares of the company’s stock valued at $396,000 after buying an additional 153,232 shares during the last quarter. 17.49% of the stock is currently owned by institutional investors.

Inflarx Company Profile

InflaRx N.V., a clinical-stage biopharmaceutical company, focuses on discovering and developing inhibitors using C5a technology primarily in the United States and Europe. Its C5a is an inflammatory mediator involved in the enhancement of a variety of autoimmune and other inflammatory diseases. The company's lead product candidate is IFX-1, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody that is in the Phase IIb clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; to treat ANCA-associated vasculitis, a rare and life-threatening autoimmune disease; and for the treatment of other chronic/autoimmune diseases.

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