Infinity Pharmaceuticals (NASDAQ:INFI) reported a rise of 2.4% or 88,456 shares in its short interest. The short figure came in at 7.7% of the total floats. The average daily volume of 3,174,141 shares suggests that the days to cover 3,733,090 short positions, as on June 15,2016, will be 1. On May 31,2016, the short interest was 3,644,634 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Infinity Pharmaceuticals (NASDAQ:INFI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.27 and $1.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.34. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.32, notching a gain of 1.54% for the day. The total traded volume was 2,122,192 . The stock had closed at $1.30 on the previous day.
The company shares have dropped -87.11% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $11.13 and the one year low was seen on Jun 24, 2016. The 50-Day Moving Average price is $4.12 and the 200 Day Moving Average price is recorded at $5.79.
Infinity Pharmaceuticals (NASDAQ:INFI) has tumbled 13.16% during the past week and has dropped 74.57% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 11.72%. Infinity Pharmaceuticals (NASDAQ:INFI) has underperformed the index by 73.8% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Infinity Pharmaceuticals, Inc. is a biopharmaceutical company that is engaged in the discovery, development and delivery of medicines to treat diseases. The Company develops small molecule drugs that target emerging disease pathways for potential applications in oncology. Its most advanced product candidate is duvelisib, also known as IPI-145, an oral, dual-inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K), for the treatment of hematologic malignancies. In addition to duvelisib, the Company seeks to expand its pipeline through internal discovery research program and licensing of potential new product candidates or technologies discovered by third parties. The Company is conducting DUETTS (Duvelisib Trials in Hematologic Malignancies), a worldwide investigation of duvelisib in blood cancers.