Infinity Pharmaceuticals, Inc. (NASDAQ:INFI)’s share price rose 14.3% on Thursday . The stock traded as high as $2.62 and last traded at $2.40. Approximately 4,346,494 shares changed hands during trading, an increase of 90% from the average daily volume of 2,288,950 shares. The stock had previously closed at $2.10.

INFI has been the topic of several analyst reports. ValuEngine downgraded Infinity Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Wells Fargo & Company upgraded Infinity Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 12th.

The company’s 50 day moving average price is $1.52 and its 200-day moving average price is $1.63. The firm’s market cap is $121.65 million.

Infinity Pharmaceuticals (NASDAQ:INFI) last posted its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.12). During the same period last year, the firm earned $1.05 EPS. Equities analysts predict that Infinity Pharmaceuticals, Inc. will post ($0.92) EPS for the current year.

In related news, insider Value Fund L. P. Biotechnology purchased 1,600,046 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were purchased at an average cost of $1.26 per share, with a total value of $2,016,057.96. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 6.81% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Infinity Pharmaceuticals by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 170,649 shares of the biotechnology company’s stock valued at $551,000 after buying an additional 443 shares in the last quarter. Geode Capital Management LLC lifted its stake in Infinity Pharmaceuticals by 4.5% in the 1st quarter. Geode Capital Management LLC now owns 345,366 shares of the biotechnology company’s stock valued at $1,114,000 after buying an additional 15,005 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in Infinity Pharmaceuticals in the 1st quarter valued at about $106,000. Wells Fargo & Company MN lifted its stake in Infinity Pharmaceuticals by 144.6% in the 1st 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 in the last quarter. Finally, Zacks Investment Management purchased a new position in Infinity Pharmaceuticals in the 2nd quarter valued at about $101,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.

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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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