Short Interest in Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Grows By 27.3%

Infinity Pharmaceuticals, Inc. (NASDAQ:INFIGet Rating) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 4,660,000 shares, an increase of 27.3% from the April 15th total of 3,660,000 shares. Based on an average daily trading volume, of 715,800 shares, the short-interest ratio is currently 6.5 days. Approximately 5.3% of the company’s stock are sold short.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Infinity Pharmaceuticals by 11.4% during the 4th quarter. BlackRock Inc. now owns 6,667,503 shares of the biotechnology company’s stock worth $15,001,000 after purchasing an additional 684,014 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in shares of Infinity Pharmaceuticals in the third quarter worth approximately $8,550,000. State Street Corp boosted its position in shares of Infinity Pharmaceuticals by 4.8% in the first quarter. State Street Corp now owns 1,884,979 shares of the biotechnology company’s stock worth $2,149,000 after acquiring an additional 86,006 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Infinity Pharmaceuticals by 22.6% in the third quarter. Geode Capital Management LLC now owns 1,734,032 shares of the biotechnology company’s stock worth $5,930,000 after acquiring an additional 319,114 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in Infinity Pharmaceuticals by 45.3% during the third quarter. Two Sigma Advisers LP now owns 1,693,200 shares of the biotechnology company’s stock valued at $5,791,000 after buying an additional 527,800 shares in the last quarter. 54.74% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on INFI. Truist Financial decreased their price target on shares of Infinity Pharmaceuticals from $12.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Piper Sandler decreased their price target on shares of Infinity Pharmaceuticals from $8.00 to $4.00 and set an “overweight” rating for the company in a research note on Tuesday, March 29th. Zacks Investment Research upgraded shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 8th. StockNews.com upgraded shares of Infinity Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, B. Riley decreased their price target on shares of Infinity Pharmaceuticals from $7.00 to $5.00 in a research note on Monday, January 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Infinity Pharmaceuticals has a consensus rating of “Buy” and an average price target of $6.39.

NASDAQ:INFI traded up $0.12 during mid-day trading on Tuesday, hitting $0.68. 833,396 shares of the company’s stock traded hands, compared to its average volume of 906,753. The firm’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $1.50. Infinity Pharmaceuticals has a 1 year low of $0.46 and a 1 year high of $3.89. The company has a market cap of $60.43 million, a PE ratio of -1.16 and a beta of 2.16.

Infinity Pharmaceuticals (NASDAQ:INFIGet Rating) last posted its earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). Infinity Pharmaceuticals had a negative net margin of 2,254.97% and a negative return on equity of 175.11%. The firm had revenue of $0.65 million during the quarter, compared to the consensus estimate of $0.40 million. During the same period last year, the firm posted ($0.15) EPS. Research analysts anticipate that Infinity Pharmaceuticals will post -0.55 earnings per share for the current year.

About Infinity Pharmaceuticals (Get Rating)

Infinity Pharmaceuticals, Inc, a biopharmaceutical company, focuses on developing novel medicines for people with cancer. Its product candidate is 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.

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