Inflarx (NASDAQ:IFRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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 commented on the stock. Robert W. Baird started coverage on shares of Inflarx in a research note on Monday, January 28th. They issued an “outperform” rating and a $62.00 price objective for the company. Credit Suisse Group started coverage on shares of Inflarx in a research note on Monday, December 10th. They issued an “outperform” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Inflarx from $42.00 to $65.00 and gave the company a “top pick” rating in a research note on Tuesday, February 5th. ValuEngine raised shares of Inflarx from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Guggenheim started coverage on shares of Inflarx in a research note on Friday, February 22nd. They issued a “buy” rating and a $65.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $51.67.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Inflarx by 137.4% during the third quarter. Vanguard Group Inc. now owns 162,460 shares of the company’s stock valued at $5,576,000 after acquiring an additional 94,020 shares during the last quarter. Scopia Capital Management LP bought a new position in shares of Inflarx during the third quarter valued at $7,038,000. Essex Investment Management Co. LLC bought a new position in shares of Inflarx during the fourth quarter valued at $798,000. Northern Trust Corp raised its stake in shares of Inflarx by 46.9% during the second quarter. Northern Trust Corp now owns 11,624 shares of the company’s stock valued at $375,000 after acquiring an additional 3,709 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Inflarx by 29.2% during the third quarter. JPMorgan Chase & Co. now owns 10,700 shares of the company’s stock valued at $367,000 after acquiring an additional 2,420 shares during the last quarter. 56.56% of the stock is owned by hedge funds and other 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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