Infinity Pharmaceuticals, Inc. (INFI) Shares Gap Down to $2.80
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI)’s share price gapped down prior to trading on Monday . The stock had previously closed at $3.22, but opened at $2.80. Infinity Pharmaceuticals shares last traded at $2.41, with a volume of 3305100 shares traded.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of Infinity Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research note 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 note on Thursday, October 12th.
Infinity Pharmaceuticals (NASDAQ:INFI) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.06. The company had revenue of $6.00 million during the quarter, compared to analyst estimates of $14.70 million. During the same period last year, the company posted ($0.39) earnings per share. analysts forecast that Infinity Pharmaceuticals, Inc. will post -0.94 EPS for the current fiscal year.
In other Infinity Pharmaceuticals news, insider Value Fund L. P. Biotechnology acquired 1,600,046 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was purchased at an average cost of $1.26 per share, for a total transaction of $2,016,057.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.81% of the company’s stock.
A number of large investors have recently modified their holdings of INFI. Zacks Investment Management bought a new stake in Infinity Pharmaceuticals in the second quarter worth $101,000. Ameriprise Financial Inc. bought a new stake in Infinity Pharmaceuticals in the second quarter worth $130,000. JPMorgan Chase & Co. bought a new stake in Infinity Pharmaceuticals in the third quarter worth $135,000. LMR Partners LLP bought a new stake in Infinity Pharmaceuticals in the second quarter worth $222,000. Finally, Wells Fargo & Company MN boosted 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 worth $263,000 after purchasing an additional 48,177 shares in the last quarter. Hedge funds and other institutional investors own 67.02% of the company’s stock.
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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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