Infinity Pharmaceuticals (NASDAQ:INFI) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Infinity Pharmaceuticals (NASDAQ:INFI) in a report released on Sunday morning. The firm issued a hold rating on the biotechnology company’s stock.

Infinity Pharmaceuticals Price Performance

Infinity Pharmaceuticals stock opened at $0.09 on Friday. The firm has a 50 day simple moving average of $0.14 and a 200-day simple moving average of $0.18. The stock has a market capitalization of $8.03 million, a PE ratio of -0.21 and a beta of 1.38. Infinity Pharmaceuticals has a 12-month low of $0.08 and a 12-month high of $1.51.

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

Institutional Trading of Infinity Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Infinity Pharmaceuticals by 5.8% during the fourth quarter. Millennium Management LLC now owns 890,128 shares of the biotechnology company’s stock worth $494,000 after buying an additional 48,795 shares in the last quarter. State Street Corp boosted its stake in Infinity Pharmaceuticals by 7.5% in the 3rd 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in Infinity Pharmaceuticals by 9.2% in the 1st 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 during the period. Goldman Sachs Group Inc. boosted its stake in Infinity Pharmaceuticals by 12.8% in the 2nd 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 during the period. Finally, Jane Street Group LLC acquired a new position in Infinity Pharmaceuticals in the 4th quarter worth approximately $82,000. 22.14% of the stock is currently owned by institutional investors.

About Infinity Pharmaceuticals

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.