Infinity Pharmaceuticals Inc. (INFI): Billionaire Steve Cohen’ SAC Up to 5% of This Stock

Page 1 of 2

According to a 13G filed with the SEC, SAC Capital Advisors, a hedge fund managed by billionaire Steve Cohen, owned 2.4 million shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI), giving the fund 5% of the total shares outstanding of the $1.9 billion market cap biotechnology company. We track SAC’s quarterly 13F filings alongside those of many other hedge funds and notable investors as part of our work developing investment strategies (we have found, for example that the most popular small cap stocks among hedge funds generate an average excess return of 18 percentage points per year), and so we can see that the fund and its Sigma subsidiary together had owned about 210,000 shares at the beginning of January (find Cohen’s favorite stocks). Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is working on drug development and placing its products in clinical trials, including for patients with arthritis and asthma.

Looking at our database of filings, Samuel Isaly’s Orbimed Advisors, which focuses on healthcare investments, increased the size of its position in Infinity by 68% during the fourth quarter of 2012 to a total of 3.2 million shares (see Isaly’s stock picks). Perceptive Advisors, a biotechnology focused hedge funds managed by Joseph Edelman, cut its stake slightly but still closed December with 2.5 million shares in its portfolio (check out more stocks Perceptive owns). We would note that two major institutional shareholders which had owned over 10% of the company recently reported dumping their shares; these transactions were reported as insider sales (research insider sales at Infinity).

Steven CohenInfinity Pharmaceuticals Inc. (NASDAQ:INFI)’s stock price had been doing quite well, having been up 35% year to date as of the beginning of April before plunging this month (likely due to these share sales). It is now up only 5% for 2012, but over 200% in the last year. As a development stage company, it only receives revenue in the form of collaborative research and development funds, a figure which declined last year compared to 2011. Almost $120 million was used on research and development for the year, which made up the overwhelming majority of Infinity Pharmaceuticals Inc. (NASDAQ:INFI)’s expenses. The company used $80 million in cash on operations in 2012, raising cash from the issuance of common stock. At the end of the year, Infinity had $180 million in cash and cash equivalents as well as $150 million in liquid securities, which should be sufficient to cover operations for at least some time. Analysts are not expecting the company to be profitable this year or next year.

Page 1 of 2
blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!