Infinity Pharmaceuticals (INFI) Sees Strong Trading Volume

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) saw unusually-high trading volume on Thursday . Approximately 1,494,672 shares were traded during trading, an increase of 545% from the previous session’s volume of 231,661 shares.The stock last traded at $1.91 and had previously closed at $1.54.

INFI has been the subject of a number of research reports. ValuEngine upgraded Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, February 4th. B. Riley initiated coverage on Infinity Pharmaceuticals in a report on Friday, January 4th. They set a “buy” rating and a $3.00 target price for the company. Zacks Investment Research cut Infinity Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Finally, UBS Group reiterated a “reduce” rating on shares of Infinity Pharmaceuticals in a report on Monday, January 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.83.

The firm has a market capitalization of $81.89 million, a PE ratio of -2.30 and a beta of 2.17.

Several large investors have recently modified their holdings of INFI. Savant Capital LLC grew its holdings in shares of Infinity Pharmaceuticals by 66.7% during the 4th quarter. Savant Capital LLC now owns 25,000 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 10,000 shares during the period. Virtu Financial LLC purchased a new stake in shares of Infinity Pharmaceuticals during the 4th quarter worth about $33,000. Two Sigma Securities LLC acquired a new position in Infinity Pharmaceuticals during the 4th quarter worth approximately $40,000. Alambic Investment Management L.P. acquired a new position in Infinity Pharmaceuticals during the 4th quarter worth approximately $46,000. Finally, Bank of New York Mellon Corp lifted its position in Infinity Pharmaceuticals by 73.6% during the 4th quarter. Bank of New York Mellon Corp now owns 72,256 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 30,622 shares in the last quarter. Institutional investors and hedge funds own 54.12% of the company’s stock.

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Infinity Pharmaceuticals Company Profile (NASDAQ:INFI)

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for people with cancer in the United States. 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.

See Also: Analyst Ratings Trading

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