Alambic Investment Management L.P. bought a new position in shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,300 shares of the biotechnology company’s stock, valued at approximately $46,000. Alambic Investment Management L.P. owned about 0.07% of Infinity Pharmaceuticals as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in INFI. Fosun International Ltd acquired a new position in shares of Infinity Pharmaceuticals in the 3rd quarter worth approximately $879,000. Dimensional Fund Advisors LP boosted its holdings in shares of Infinity Pharmaceuticals by 14.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,065,874 shares of the biotechnology company’s stock worth $2,889,000 after acquiring an additional 133,504 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Infinity Pharmaceuticals by 35.7% in the 3rd quarter. Renaissance Technologies LLC now owns 736,700 shares of the biotechnology company’s stock worth $1,996,000 after acquiring an additional 194,000 shares in the last quarter. EcoR1 Capital LLC boosted its holdings in shares of Infinity Pharmaceuticals by 12.2% in the 3rd quarter. EcoR1 Capital LLC now owns 462,068 shares of the biotechnology company’s stock worth $1,252,000 after acquiring an additional 50,068 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new position in shares of Infinity Pharmaceuticals in the 3rd quarter worth approximately $745,000. 51.25% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Value Fund L. P. Biotechnology acquired 175,000 shares of the company’s stock in a transaction that occurred on Thursday, December 13th. The stock was purchased at an average price of $1.20 per share, for a total transaction of $210,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.45% of the company’s stock.
INFI has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Infinity Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Monday, November 12th. Wells Fargo & Co cut shares of Infinity Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Monday, November 12th. Zacks Investment Research upgraded shares of Infinity Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research report on Wednesday, January 2nd. B. Riley started coverage on shares of Infinity Pharmaceuticals in a research report on Friday, January 4th. They issued a “buy” rating and a $3.00 price objective for the company. Finally, UBS Group restated a “reduce” rating on shares of Infinity Pharmaceuticals in a research report on Monday, January 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $2.83.
INFI stock opened at $1.50 on Friday. Infinity Pharmaceuticals Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.92. The company has a market capitalization of $85.31 million, a P/E ratio of -1.81 and a beta of 2.17.
TRADEMARK VIOLATION NOTICE: “Alambic Investment Management L.P. Takes $46,000 Position in Infinity Pharmaceuticals Inc. (INFI)” was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2019/03/10/alambic-investment-management-l-p-takes-46000-position-in-infinity-pharmaceuticals-inc-infi.html.
Infinity Pharmaceuticals Profile
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.
Featured Article: Differences Between Momentum Investing and Long Term Investing
Want to see what other hedge funds are holding INFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infinity Pharmaceuticals Inc. (NASDAQ:INFI).
Receive News & Ratings for Infinity Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.