Inflarx (NASDAQ:IFRX) Downgraded by Zacks Investment Research to Sell

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Inflarx (NASDAQ:IFRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, Zacks.com 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. “

Several other equities analysts also recently weighed in on IFRX. ValuEngine raised Inflarx from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird downgraded Inflarx from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $6.00 in a research report on Wednesday, June 5th. SunTrust Banks downgraded Inflarx from a “buy” rating to a “hold” rating and lowered their price objective for the company from $55.00 to $5.00 in a research report on Wednesday, June 5th. BMO Capital Markets downgraded Inflarx from an “outperform” rating to a “market perform” rating and set a $5.00 price objective for the company. in a research report on Wednesday, June 5th. Finally, Credit Suisse Group downgraded Inflarx from an “outperform” rating to an “underperform” rating in a research report on Wednesday, June 5th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.66.

Inflarx stock traded down $0.02 during mid-day trading on Thursday, hitting $2.56. 596,450 shares of the company were exchanged, compared to its average volume of 860,805. The business’s 50 day simple moving average is $3.02 and its two-hundred day simple moving average is $26.89. The company has a market capitalization of $68.55 million, a P/E ratio of -1.83 and a beta of -1.53. Inflarx has a 12-month low of $2.45 and a 12-month high of $53.10.

Inflarx (NASDAQ:IFRX) last released its quarterly earnings results on Thursday, May 23rd. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.62) by $0.19. Analysts forecast that Inflarx will post -2.09 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Citadel Advisors LLC grew its position in shares of Inflarx by 5.1% in the second quarter. Citadel Advisors LLC now owns 99,935 shares of the company’s stock valued at $316,000 after purchasing an additional 4,840 shares during the period. Spark Investment Management LLC purchased a new stake in Inflarx during the first quarter valued at about $359,000. Millennium Management LLC grew its position in Inflarx by 18.1% during the fourth quarter. Millennium Management LLC now owns 72,153 shares of the company’s stock valued at $2,624,000 after acquiring an additional 11,080 shares during the period. Artisan Partners Limited Partnership grew its position in Inflarx by 36.1% during the first quarter. Artisan Partners Limited Partnership now owns 52,197 shares of the company’s stock valued at $1,973,000 after acquiring an additional 13,834 shares during the period. Finally, 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 acquiring an additional 15,962 shares during the period. 57.02% of the stock is owned by institutional investors and hedge funds.

About Inflarx

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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