The Infinity Pharmaceuticals, Inc. (INFI) Shares Gap Down to $3.73

The Infinity Pharmaceuticals, Inc. (INFI) Shares Gap Down to $3.73

Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) shares gapped down prior to trading on Friday . The stock had previously closed at $4.18, but opened at $3.73. Infinity Pharmaceuticals shares last traded at $2.90, with a volume of 15,752,922 shares changing hands.

A number of research analysts recently commented on the stock. ValuEngine raised shares of Infinity Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday. Wells Fargo & Company raised shares of Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Thursday.

The firm’s market capitalization is $147.00 million. The company’s 50-day moving average price is $1.28 and its 200 day moving average price is $1.65.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.12). During the same quarter in the prior year, the business posted $1.05 EPS. On average, analysts expect that Infinity Pharmaceuticals, Inc. will post ($0.92) earnings per share for the current year.

In other news, insider Value Fund L. P. Biotechnology bought 1,600,046 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were bought at an average cost of $1.26 per share, for a total transaction of $2,016,057.96. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.81% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Infinity Pharmaceuticals by 27.7% in the 1st quarter. Vanguard Group Inc. now owns 4,701,769 shares of the biotechnology company’s stock worth $15,187,000 after acquiring an additional 1,021,128 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Infinity Pharmaceuticals by 4.8% in the 1st quarter. Wellington Management Group LLP now owns 4,565,947 shares of the biotechnology company’s stock worth $14,748,000 after acquiring an additional 207,876 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in shares of Infinity Pharmaceuticals by 62.6% in the 1st quarter. Platinum Investment Management Ltd. now owns 810,232 shares of the biotechnology company’s stock worth $2,617,000 after acquiring an additional 312,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Infinity Pharmaceuticals by 32.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 652,481 shares of the biotechnology company’s stock worth $1,024,000 after acquiring an additional 160,814 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Infinity Pharmaceuticals by 2,430.0% in the 2nd quarter. Legal & General Group Plc now owns 349,346 shares of the biotechnology company’s stock worth $548,000 after acquiring an additional 335,538 shares during the last quarter. Hedge funds and other institutional investors own 67.47% of the company’s stock.

About Infinity Pharmaceuticals

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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