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

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!