Short Interest in Infinity Pharmaceuticals, Inc. (INFI) Expands By 178.0%
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,070,777 shares, a growth of 178.0% from the October 13th total of 744,999 shares. Based on an average trading volume of 1,834,208 shares, the days-to-cover ratio is currently 1.1 days. Currently, 4.3% of the shares of the company are sold short.
In other news, insider Value Fund L. P. Biotechnology bought 1,600,046 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were purchased at an average price of $1.26 per share, for a total transaction of $2,016,057.96. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 6.81% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of INFI. Vanguard Group Inc. increased its stake in Infinity Pharmaceuticals by 27.7% in the first quarter. Vanguard Group Inc. now owns 4,701,769 shares of the biotechnology company’s stock valued at $15,187,000 after acquiring an additional 1,021,128 shares during the period. Dimensional Fund Advisors LP bought a new stake in Infinity Pharmaceuticals in the first quarter valued at about $1,588,000. Legal & General Group Plc increased its stake in Infinity Pharmaceuticals by 2,430.0% in the second quarter. Legal & General Group Plc now owns 349,346 shares of the biotechnology company’s stock valued at $548,000 after acquiring an additional 335,538 shares during the period. FMR LLC bought a new stake in Infinity Pharmaceuticals in the second quarter valued at about $349,000. Finally, LMR Partners LLP bought a new stake in Infinity Pharmaceuticals in the second quarter valued at about $222,000. 67.12% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the stock. ValuEngine upgraded shares of Infinity Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Company upgraded shares of Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a report on Thursday, October 12th.
Infinity Pharmaceuticals (NASDAQ INFI) opened at $2.41 on Friday. Infinity Pharmaceuticals has a twelve month low of $0.93 and a twelve month high of $3.84.
Infinity Pharmaceuticals (NASDAQ:INFI) last posted its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. The company had revenue of $6.00 million for the quarter, compared to the consensus estimate of $14.70 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. sell-side analysts predict that Infinity Pharmaceuticals will post -0.94 earnings per share for the current year.
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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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