Infinity Pharmaceuticals (NASDAQ:INFI) Shares Down 6.8%


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Infinity Pharmaceuticals, Inc. (NASDAQ:INFI)’s share price dropped 6.8% during trading on Tuesday . The stock traded as low as $3.20 and last traded at $3.40. Approximately 3,940,324 shares traded hands during trading, a decline of 26% from the average daily volume of 5,296,295 shares. The stock had previously closed at $3.65.

INFI has been the topic of several analyst reports. Zacks Investment Research raised shares of Infinity Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research report on Tuesday, February 2nd. Piper Sandler initiated coverage on shares of Infinity Pharmaceuticals in a research report on Thursday, February 18th. They set an “overweight” rating and a $7.00 target price on the stock. B. Riley increased their target price on shares of Infinity Pharmaceuticals from $4.50 to $8.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. JPMorgan Chase & Co. raised shares of Infinity Pharmaceuticals from an “underweight” rating to a “neutral” rating in a research report on Friday, February 5th. Finally, Oppenheimer increased their target price on shares of Infinity Pharmaceuticals from $5.50 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $5.80.

The company has a market capitalization of $218.30 million, a price-to-earnings ratio of -5.14 and a beta of 2.40. The company has a 50-day moving average price of $3.49 and a 200-day moving average price of $1.97.

In other news, major shareholder Bvf Partners L. P/Il sold 5,848,520 shares of the firm’s stock in a transaction dated Friday, January 22nd. The stock was sold at an average price of $4.14, for a total value of $24,212,872.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.77% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Private Wealth Advisors Inc. acquired a new stake in Infinity Pharmaceuticals during the fourth quarter worth about $25,000. Morgan Stanley grew its position in Infinity Pharmaceuticals by 268.9% during the third quarter. Morgan Stanley now owns 35,251 shares of the biotechnology company’s stock worth $41,000 after buying an additional 25,695 shares in the last quarter. JPMorgan Chase & Co. grew its position in Infinity Pharmaceuticals by 165,024.0% during the fourth quarter. JPMorgan Chase & Co. now owns 41,281 shares of the biotechnology company’s stock worth $88,000 after buying an additional 41,256 shares in the last quarter. Callan Capital LLC acquired a new stake in Infinity Pharmaceuticals during the fourth quarter worth about $155,000. Finally, Acadian Asset Management LLC grew its position in Infinity Pharmaceuticals by 8.6% during the third quarter. Acadian Asset Management LLC now owns 647,394 shares of the biotechnology company’s stock worth $758,000 after buying an additional 51,482 shares in the last quarter. 46.66% of the stock is currently owned by institutional investors and hedge funds.

About Infinity Pharmaceuticals (NASDAQ:INFI)

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. It offers IPI-549, an orally administered, clinical-stage, immuno-oncology product candidate that selectively inhibits the enzyme phosphoinositide-3-kinase-gamma Its product candidate is IPI-549, an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma (PI3K-gamma), which is in Phase 1/1b clinical study.

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