With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to buy or sell heading into the fourth quarter. One of these stocks was Infinity Pharmaceuticals Inc. (NASDAQ:INFI).
Infinity Pharmaceuticals Inc. was in 20 hedge funds’ portfolios at the end of September. INFI has experienced a decrease in activity from the world’s largest hedge funds lately. There were 21 hedge funds in our database with INFI holdings at the end of the previous quarter. At the end of this article we will also compare INFI to other stocks including Myers Industries, Inc. (NYSE:MYE), Omeros Corporation (NASDAQ:OMER), and First Financial Corp (NASDAQ:THFF) to get a better sense of its popularity.
In the financial world there are many gauges shareholders put to use to grade stocks. A duo of the most under-the-radar gauges are hedge fund and insider trading activity. Our researchers have shown that, historically, those who follow the best picks of the best fund managers can outperform the S&P 500 by a healthy margin (see the details here).
Now, let’s take a gander at the latest action encompassing Infinity Pharmaceuticals Inc. (NASDAQ:INFI).
How have hedgies been trading Infinity Pharmaceuticals Inc. (NASDAQ:INFI)?
At the end of the third quarter, a total of 20 of the hedge funds tracked by Insider Monkey were long this stock, a change of -5% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Samuel Isaly’s OrbiMed Advisors has the largest position in Infinity Pharmaceuticals Inc. (NASDAQ:INFI), worth close to $37.3 million, amounting to 0.4% of its total 13F portfolio. On OrbiMed Advisors’ heels is Deerfield Management, managed by James E. Flynn, which holds a $33 million position; 1.3% of its 13F portfolio is allocated to the company. Remaining peers that are bullish comprise Renaissance Technologies, Jeremy Green’s Redmile Group, and D E Shaw.