Lawrence E. Bloch Acquires 500,000 Shares of Infinity Pharmaceuticals Inc. (INFI) Stock
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) President Lawrence E. Bloch bought 500,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was bought at an average cost of $1.81 per share, for a total transaction of $905,000.00. Following the completion of the transaction, the president now directly owns 580,944 shares of the company’s stock, valued at $1,051,508.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Infinity Pharmaceuticals Inc. (INFI) opened at $1.99 on Friday. Infinity Pharmaceuticals Inc. has a 52-week low of $0.93 and a 52-week high of $3.84.
Infinity Pharmaceuticals (NASDAQ:INFI) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ 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 in the prior year, the business earned ($0.39) earnings per share. sell-side analysts predict that Infinity Pharmaceuticals Inc. will post -0.93 EPS for the current fiscal year.
INFI has been the topic of several analyst reports. ValuEngine lowered Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Wells Fargo & Company raised Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in Infinity Pharmaceuticals in the first quarter worth $1,588,000. FMR LLC acquired a new position in shares of Infinity Pharmaceuticals during the second quarter valued at $349,000. Platinum Investment Management Ltd. increased its holdings in shares of 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 purchasing an additional 601,600 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Infinity Pharmaceuticals by 75.0% during the second quarter. Goldman Sachs Group Inc. now owns 246,234 shares of the biotechnology company’s stock valued at $387,000 after purchasing an additional 105,497 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Infinity Pharmaceuticals by 27.7% during the first quarter. Vanguard Group Inc. now owns 4,701,769 shares of the biotechnology company’s stock valued at $15,187,000 after purchasing an additional 1,021,128 shares during the period. 54.41% of the stock is currently owned by hedge funds and other institutional investors.
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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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