InflaRx (NASDAQ:IFRX) Trading 3.8% Higher - Here's Why

InflaRx (NASDAQ:IFRX - Get Free Report)'s stock price was up 3.8% during mid-day trading on Thursday . The company traded as high as $2.49 and last traded at $2.46. Approximately 485,536 shares changed hands during mid-day trading, an increase of 175% from the average daily volume of 176,555 shares. The stock had previously closed at $2.37.

Analysts Set New Price Targets

Separately, HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of InflaRx in a research report on Monday, November 11th.

InflaRx Stock Up 6.5 %

The company's 50-day moving average is $1.77 and its 200 day moving average is $1.61. The company has a market cap of $154.27 million, a price-to-earnings ratio of -2.43 and a beta of 1.67.

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.