Infinity Pharmaceuticals, Inc. (INFI) Short Interest Update
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 908,639 shares, a decline of 22.5% from the August 15th total of 1,172,061 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 658,966 shares, the short-interest ratio is currently 1.4 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Highbridge Capital Management LLC bought a new position in shares of Infinity Pharmaceuticals during the first quarter worth approximately $106,000. Zacks Investment Management bought a new position in shares of Infinity Pharmaceuticals during the second quarter worth approximately $101,000. Wells Fargo & Company MN increased its stake in shares of Infinity Pharmaceuticals by 144.6% during 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 during the period. Ameriprise Financial Inc. bought a new position in shares of Infinity Pharmaceuticals during the second quarter worth approximately $130,000. Finally, Citadel Advisors LLC increased its stake in shares of Infinity Pharmaceuticals by 19,074.1% during the first quarter. Citadel Advisors LLC now owns 86,522 shares of the biotechnology company’s stock worth $279,000 after purchasing an additional 86,978 shares during the period. Institutional investors own 67.47% of the company’s stock.
Shares of Infinity Pharmaceuticals (NASDAQ:INFI) opened at 1.28 on Friday. The stock’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.87. The company’s market capitalization is $64.88 million. Infinity Pharmaceuticals has a 52-week low of $0.84 and a 52-week high of $3.84.
Infinity Pharmaceuticals (NASDAQ:INFI) last announced its earnings results 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 period in the prior year, the company posted $1.05 earnings per share. On average, analysts expect that Infinity Pharmaceuticals will post ($0.92) earnings per share for the current year.
Separately, ValuEngine cut Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd.
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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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