Infinity Pharmaceuticals, Inc. (INFI) Trading Up -7.6%

Infinity Pharmaceuticals, Inc. (NASDAQ:INFI)’s share price was up 7.6% during trading on Friday . The stock traded as high as $1.35 and last traded at $1.22. Approximately 543,592 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 682,994 shares. The stock had previously closed at $1.32.

Several equities analysts have commented on INFI shares. ValuEngine downgraded Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded Infinity Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th.

The company’s 50-day moving average is $1.19 and its 200 day moving average is $1.92. The firm’s market cap is $61.33 million.

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

Several hedge funds and other institutional investors have recently modified their holdings of INFI. Nationwide Fund Advisors grew its stake in shares of Infinity Pharmaceuticals by 211.8% in the first quarter. Nationwide Fund Advisors now owns 96,918 shares of the biotechnology company’s stock valued at $313,000 after buying an additional 65,838 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Infinity Pharmaceuticals by 689.0% in the first quarter. Acadian Asset Management LLC now owns 585,232 shares of the biotechnology company’s stock valued at $1,888,000 after buying an additional 511,057 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Infinity Pharmaceuticals by 394.6% in the first quarter. Russell Investments Group Ltd. now owns 208,238 shares of the biotechnology company’s stock valued at $673,000 after buying an additional 166,138 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Infinity Pharmaceuticals by 144.6% in 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 in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Infinity Pharmaceuticals in the first quarter valued at $129,000. 67.47% of the stock is owned by institutional investors and hedge funds.

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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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