Inflarx NV (NASDAQ:IFRX) Sees Significant Drop in Short Interest

Inflarx NV (NASDAQ:IFRX) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,420,000 shares, a drop of 7.2% from the August 30th total of 1,530,000 shares. Based on an average daily trading volume, of 667,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 8.2% of the company’s shares are short sold.

Several analysts have recently commented on the stock. ValuEngine raised shares of Inflarx from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Inflarx from a “hold” rating to a “sell” rating in a research report on Thursday, August 15th. Finally, Raymond James reaffirmed a “hold” rating on shares of Inflarx in a research report on Friday, July 19th. Three 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. Inflarx has a consensus rating of “Hold” and an average target price of $15.66.

Shares of IFRX stock traded down $0.04 during trading hours on Thursday, hitting $2.33. 88,722 shares of the company were exchanged, compared to its average volume of 766,293. The company has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $16.08. Inflarx has a fifty-two week low of $2.17 and a fifty-two week high of $53.10. The firm has a market cap of $61.53 million, a P/E ratio of -1.66 and a beta of -1.51.

Inflarx (NASDAQ:IFRX) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.11). On average, analysts anticipate that Inflarx will post -2.25 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in Inflarx in the 2nd quarter valued at $445,000. Atria Investments LLC acquired a new stake in Inflarx in the 2nd quarter valued at $297,000. A.R.T. Advisors LLC grew its position in Inflarx by 145.8% in the 2nd quarter. A.R.T. Advisors LLC now owns 29,162 shares of the company’s stock valued at $92,000 after purchasing an additional 17,300 shares during the period. Alpine Global Management LLC acquired a new stake in Inflarx in the 2nd quarter valued at $95,000. Finally, Redmile Group LLC grew its position in Inflarx by 7.2% in the 1st quarter. Redmile Group LLC now owns 2,182,638 shares of the company’s stock valued at $82,482,000 after purchasing an additional 147,238 shares during the period. 17.06% of the stock is owned by institutional investors and hedge funds.

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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