Infinity Pharmaceuticals (NASDAQ:INFI) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Infinity Pharmaceuticals (NASDAQ:INFI) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the biotechnology company’s stock.

Infinity Pharmaceuticals Price Performance

INFI opened at $0.03 on Tuesday. The company’s 50 day simple moving average is $0.12 and its two-hundred day simple moving average is $0.16. Infinity Pharmaceuticals has a 1-year low of $0.02 and a 1-year high of $1.33. The firm has a market capitalization of $2.46 million, a price-to-earnings ratio of -0.06 and a beta of 1.38.

Infinity Pharmaceuticals (NASDAQ:INFI) last released its quarterly earnings results on Thursday, August 10th. The biotechnology company reported ($0.11) EPS for the quarter. The firm had revenue of $0.58 million for the quarter.

Insiders Place Their Bets

In related news, Director Adelene Q. Perkins sold 410,196 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $0.07, for a total transaction of $28,713.72. Following the completion of the transaction, the director now owns 1,175,291 shares in the company, valued at $82,270.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.81% of the company’s stock.

Hedge Funds Weigh In On Infinity Pharmaceuticals

Several large investors have recently bought and sold shares of INFI. Millennium Management LLC raised its holdings in shares of Infinity Pharmaceuticals by 5.8% in the fourth quarter. Millennium Management LLC now owns 890,128 shares of the biotechnology company’s stock valued at $494,000 after buying an additional 48,795 shares during the last quarter. State Street Corp raised its holdings in Infinity Pharmaceuticals by 7.5% during the third quarter. State Street Corp now owns 342,060 shares of the biotechnology company’s stock worth $407,000 after purchasing an additional 23,900 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Infinity Pharmaceuticals by 9.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 235,240 shares of the biotechnology company’s stock worth $269,000 after purchasing an additional 19,790 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Infinity Pharmaceuticals by 12.8% during the second quarter. Goldman Sachs Group Inc. now owns 232,460 shares of the biotechnology company’s stock worth $147,000 after purchasing an additional 26,345 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Infinity Pharmaceuticals during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 22.14% of the company’s stock.

Infinity Pharmaceuticals Company Profile

Infinity Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing novel medicines for people with cancer. The company's product candidate, including eganelisib (IPI-549), an orally administered clinical-stage immuno-oncology product candidate that inhibits the enzyme phosphoinositide-3-kinase-gamma, which is in Phase 2 clinical trials for the treatment of metastatic triple negative breast cancer and urothelial cancer; and Phase 1/1b clinical trials for the treatment of solid tumors.