HC Wainwright Reaffirms “Buy” Rating for InflaRx (NASDAQ:IFRX)

HC Wainwright restated their buy rating on shares of InflaRx (NASDAQ:IFRX) in a research note released on Monday,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

InflaRx Price Performance

Shares of IFRX opened at $1.51 on Monday. The stock has a market cap of $88.91 million, a PE ratio of -1.42 and a beta of 1.57. InflaRx has a 12 month low of $1.17 and a 12 month high of $2.10. The stock’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.51.

Hedge Funds Weigh In On InflaRx

A hedge fund recently raised its stake in InflaRx stock. Ikarian Capital LLC increased its holdings in InflaRx (NASDAQ:IFRX) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 704,987 shares of the company’s stock after buying an additional 16,383 shares during the period. Ikarian Capital LLC owned about 1.20% of InflaRx worth $1,086,000 as of its most recent filing with the SEC. 42.39% of the stock is owned by institutional investors and hedge funds.

InflaRx Company Profile

InflaRx N.V., a clinical-stage biopharmaceutical company, discovers and develops inhibitors using C5a technology in Germany and the United States. The company's C5a is an inflammatory mediator that is involved in the progression of a variety of autoimmune and other inflammatory diseases. Its lead product candidate is vilobelimab, a novel intravenously delivered first-in-class anti-C5a monoclonal antibody, which completed the Phase III clinical trial for the treatment of hidradenitis suppurativa, a rare and chronic debilitating systemic inflammatory skin disease; for the treatment of anti-neutrophil cytoplasm antibody associated vasculitis, a rare and life-threatening autoimmune disease that is in Phase II trial; to treat pyoderma gangraenosum, a chronic inflammatory skin disorder that is in Phase IIa exploratory study; and for the treatment of PD-1/PD-L1 inhibitor resistant/refractory locally advanced or metastatic cutaneous squamous cell carcinoma that is in Phase II clinical development stage.