Infinity Pharmaceuticals, Inc. (INFI) Stock Price Up 85.6%

Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) shares rose 85.6% during trading on Thursday . The stock traded as high as $1.69 and last traded at $3.10. Approximately 38,130,367 shares changed hands during mid-day trading, an increase of 3,859% from the average daily volume of 963,074 shares. The stock had previously closed at $1.67.

INFI has been the topic of several research reports. ValuEngine lowered shares of Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company upgraded shares of Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Thursday.

The firm’s market cap is $162.68 million. The company’s 50-day moving average is $1.20 and its 200-day moving average is $1.64.

Infinity Pharmaceuticals (NASDAQ:INFI) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.12). During the same quarter last year, the company earned $1.05 earnings per share. Equities research analysts expect that Infinity Pharmaceuticals, Inc. will post ($0.92) EPS for the current fiscal year.

In related 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 stock was purchased at an average price of $1.26 per share, with a total value of $2,016,057.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.81% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Highbridge Capital Management LLC acquired a new position in shares of Infinity Pharmaceuticals during the first quarter worth approximately $106,000. Zacks Investment Management acquired a new position in shares of Infinity Pharmaceuticals during the second quarter worth approximately $101,000. Wells Fargo & Company MN lifted its holdings in shares of Infinity Pharmaceuticals by 144.6% during the first quarter. Wells Fargo & Company MN now owns 81,493 shares of the biotechnology company’s stock worth $263,000 after buying an additional 48,177 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Infinity Pharmaceuticals during the second quarter worth approximately $130,000. Finally, Citadel Advisors LLC lifted its holdings in shares of Infinity Pharmaceuticals by 19,074.1% during the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock worth $279,000 after buying an additional 86,978 shares during the last quarter. Institutional investors own 67.47% of the company’s stock.

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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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