Infinity Pharmaceuticals, Inc. (INFI) Insider Acquires $2,016,057.96 in Stock
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) 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 cost of $1.26 per share, for a total transaction of $2,016,057.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) traded up 8.40% during midday trading on Thursday, reaching $1.42. The company had a trading volume of 1,790,662 shares. The company’s market capitalization is $71.98 million. Infinity Pharmaceuticals, Inc. has a 12 month low of $0.84 and a 12 month high of $3.84. The firm’s 50 day moving average price is $1.14 and its 200-day moving average price is $1.70.
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 the Zacks’ consensus estimate of ($0.22) by ($0.12). During the same period in the prior year, the business posted $1.05 EPS. Analysts anticipate that Infinity Pharmaceuticals, Inc. will post ($0.92) earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in INFI. Zacks Investment Management acquired a new position in shares of Infinity Pharmaceuticals during the second quarter worth approximately $101,000. Highbridge Capital Management LLC acquired a new position in Infinity Pharmaceuticals in the first quarter valued at approximately $106,000. Ameriprise Financial Inc. acquired a new position in Infinity Pharmaceuticals in the second quarter valued at approximately $130,000. LMR Partners LLP acquired a new position in Infinity Pharmaceuticals in the second quarter valued at approximately $222,000. Finally, Wells Fargo & Company MN lifted its holdings in 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 during the period. Institutional investors own 67.47% of the company’s stock.
Separately, ValuEngine cut Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.
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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