Infinity Pharmaceuticals (INFI) Shares Down 6.2%
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) dropped 6.2% during mid-day trading on Tuesday . The stock traded as low as $1.77 and last traded at $1.82. Approximately 732,732 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,352,783 shares. The stock had previously closed at $1.94.
INFI has been the subject of several research reports. ValuEngine cut shares of Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company raised shares of Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 12th.
Infinity Pharmaceuticals (NASDAQ:INFI) last announced its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.06. The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $14.70 million. During the same period in the previous year, the company posted ($0.39) EPS. analysts forecast that Infinity Pharmaceuticals Inc. will post -0.93 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in INFI. Vanguard Group Inc. lifted its position 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 purchasing an additional 1,021,128 shares during the period. Platinum Investment Management Ltd. lifted its position in Infinity Pharmaceuticals by 74.3% during the third quarter. Platinum Investment Management Ltd. now owns 1,411,832 shares of the biotechnology company’s stock valued at $1,877,000 after acquiring an additional 601,600 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Infinity Pharmaceuticals during the first quarter valued at approximately $1,588,000. Legal & General Group Plc lifted its position in Infinity Pharmaceuticals by 2,430.0% during 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 last quarter. Finally, FMR LLC purchased a new stake in Infinity Pharmaceuticals during the second quarter valued at approximately $349,000. 54.41% of the stock is owned by hedge funds and other institutional investors.
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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