Infinity Pharmaceuticals Inc. (NASDAQ:INFI)’s share price traded up 9.3% during trading on Wednesday . The stock traded as high as $2.73 and last traded at $2.70. 1,181,973 shares were traded during mid-day trading, an increase of 62% from the average session volume of 729,362 shares. The stock had previously closed at $2.47.
Separately, ValuEngine lowered shares of Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st.
The firm has a market cap of $132.86, a PE ratio of -2.35 and a beta of 2.74.
Several institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. purchased a new position in Infinity Pharmaceuticals during the 2nd quarter worth approximately $130,000. Dimensional Fund Advisors LP raised its position in Infinity Pharmaceuticals by 32.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 652,481 shares of the biotechnology company’s stock worth $1,024,000 after buying an additional 160,814 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Infinity Pharmaceuticals by 75.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 246,234 shares of the biotechnology company’s stock worth $387,000 after buying an additional 105,497 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Infinity Pharmaceuticals during the 3rd quarter worth approximately $135,000. Finally, Platinum Investment Management Ltd. raised its position in Infinity Pharmaceuticals by 74.3% during the 3rd quarter. Platinum Investment Management Ltd. now owns 1,411,832 shares of the biotechnology company’s stock worth $1,877,000 after buying an additional 601,600 shares during the last quarter. 50.69% of the stock is owned by hedge funds and other institutional investors.
Infinity Pharmaceuticals Company Profile
Infinity Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target disease pathways for potential applications in oncology. Its product candidate is duvelisib, also known as IPI-145, is an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies, or blood cancers.
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