Shares of Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) shot up 5.8% during trading on Tuesday . The company traded as high as $1.26 and last traded at $1.14. 474,774 shares changed hands during trading, a decline of 39% from the average session volume of 773,291 shares. The stock had previously closed at $1.21.

Separately, ValuEngine cut Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.

The company has a 50 day moving average price of $1.15 and a 200-day moving average price of $1.83. The company’s market capitalization is $59.31 million.

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

Institutional investors have recently made changes to their positions in the company. Zacks Investment Management acquired a new stake in shares of Infinity Pharmaceuticals during the second quarter worth $101,000. Highbridge Capital Management LLC acquired a new position in Infinity Pharmaceuticals during the first quarter valued at $106,000. Ameriprise Financial Inc. acquired a new position in Infinity Pharmaceuticals during the second quarter valued at $130,000. LMR Partners LLP acquired a new position in Infinity Pharmaceuticals during the second quarter valued at $222,000. Finally, Wells Fargo & Company MN raised its position in Infinity Pharmaceuticals by 144.6% during the first quarter. Wells Fargo & Company MN now owns 81,493 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 48,177 shares during the period. 67.47% of the stock is currently owned by institutional investors.

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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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