Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) traded up 0% during trading on Friday . The stock traded as high as $1.84 and last traded at $1.84. 540,721 shares changed hands during trading, an increase of 5% from the average session volume of 513,597 shares. The stock had previously closed at $1.84.
Several analysts have recently commented on the company. Zacks Investment Research cut Infinity Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. ValuEngine upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Seaport Global Securities started coverage on Infinity Pharmaceuticals in a report on Thursday, May 31st. They issued a “buy” rating and a $4.00 price target on the stock.
Infinity Pharmaceuticals (NASDAQ:INFI) last posted its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). equities research analysts forecast that Infinity Pharmaceuticals Inc. will post -0.75 earnings per share for the current fiscal year.
In other news, major shareholder Value Fund L. P. Biotechnology purchased 1,510,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 10th. The shares were acquired at an average price of $1.97 per share, for a total transaction of $2,974,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.45% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in INFI. BVF Inc. IL lifted its stake in Infinity Pharmaceuticals by 24.2% in the fourth quarter. BVF Inc. IL now owns 9,766,508 shares of the biotechnology company’s stock valued at $19,826,000 after buying an additional 1,900,400 shares during the period. Millennium Management LLC lifted its stake in Infinity Pharmaceuticals by 105.3% in the fourth quarter. Millennium Management LLC now owns 1,198,854 shares of the biotechnology company’s stock valued at $2,434,000 after buying an additional 614,806 shares during the period. Wasatch Advisors Inc. acquired a new position in Infinity Pharmaceuticals in the first quarter valued at about $747,000. Dimensional Fund Advisors LP lifted its stake in Infinity Pharmaceuticals by 76.2% in the first quarter. Dimensional Fund Advisors LP now owns 734,272 shares of the biotechnology company’s stock valued at $1,542,000 after buying an additional 317,583 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Infinity Pharmaceuticals by 2,112.9% in the first quarter. GSA Capital Partners LLP now owns 302,154 shares of the biotechnology company’s stock valued at $635,000 after buying an additional 288,500 shares during the period. 50.59% of the stock is currently owned by hedge funds and other institutional investors.
Infinity Pharmaceuticals Company Profile
Infinity Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for people with cancer in the United States. Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.
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