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

Zacks Investment Research cut shares of Inflarx (NASDAQ:IFRX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, 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 brokerages also recently commented on IFRX. Robert W. Baird downgraded shares of Inflarx from an outperform rating to a neutral rating and dropped their target price for the stock from $58.00 to $6.00 in a report on Wednesday, June 5th. BMO Capital Markets downgraded shares of Inflarx from an outperform rating to a market perform rating and set a $5.00 target price on the stock. in a report on Wednesday, June 5th. Guggenheim downgraded shares of Inflarx from a buy rating to a neutral rating and dropped their target price for the stock from $65.00 to $6.00 in a report on Wednesday, June 5th. Svb Leerink downgraded shares of Inflarx from an outperform rating to a market perform rating in a report on Wednesday, June 5th. Finally, ValuEngine upgraded shares of Inflarx from a hold rating to a buy rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $15.66.

Shares of IFRX opened at $2.63 on Thursday. Inflarx has a one year low of $2.45 and a one year high of $53.10. The company’s fifty day moving average price is $3.01 and its 200 day moving average price is $26.77.

Inflarx (NASDAQ:IFRX) last announced its earnings results on Wednesday, August 14th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.11). On average, research analysts expect that Inflarx will post -2.18 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Citadel Advisors LLC increased its holdings in shares of Inflarx by 5.1% during the 2nd quarter. Citadel Advisors LLC now owns 99,935 shares of the company’s stock worth $316,000 after purchasing an additional 4,840 shares during the period. Spark Investment Management LLC bought a new position in shares of Inflarx during the 1st quarter worth about $359,000. Millennium Management LLC increased its holdings in shares of Inflarx by 18.1% during the 4th quarter. Millennium Management LLC now owns 72,153 shares of the company’s stock worth $2,624,000 after purchasing an additional 11,080 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Inflarx by 36.1% during the 1st quarter. Artisan Partners Limited Partnership now owns 52,197 shares of the company’s stock worth $1,973,000 after purchasing an additional 13,834 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Inflarx by 23.2% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 84,863 shares of the company’s stock worth $268,000 after purchasing an additional 15,962 shares during the period. Institutional investors own 51.40% of the company’s stock.

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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