Verastem (NASDAQ:VSTM) Director Michael Kauffman Sells 8,550 Shares

Verastem, Inc. (NASDAQ:VSTM) Director Michael Kauffman sold 8,550 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $10.00, for a total transaction of $85,500.00. Following the sale, the director owned 8,666 shares in the company, valued at approximately $86,660. This trade represents a 49.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Verastem Price Performance

NASDAQ:VSTM traded up $0.41 during midday trading on Tuesday, hitting $10.25. The company had a trading volume of 1,820,292 shares, compared to its average volume of 1,987,401. The company has a market capitalization of $684.50 million, a PE ratio of -2.54 and a beta of 0.89. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 2.06. Verastem, Inc. has a 52-week low of $3.45 and a 52-week high of $11.24. The stock’s fifty day moving average price is $8.82 and its 200-day moving average price is $7.52.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The business had revenue of $11.24 million during the quarter, compared to analysts’ expectations of $5.76 million. As a group, research analysts expect that Verastem, Inc. will post -3.02 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in shares of Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares during the period. BNP Paribas Financial Markets boosted its holdings in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 4,496 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Verastem during the 2nd quarter valued at $49,000. Nebula Research & Development LLC purchased a new position in Verastem during the 2nd quarter valued at $53,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,440 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on VSTM shares. Wall Street Zen cut shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Mizuho set a $15.00 target price on shares of Verastem in a report on Wednesday, October 29th. B. Riley raised shares of Verastem to a “strong-buy” rating in a research note on Monday, August 25th. BTIG Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of Verastem in a research note on Tuesday, September 9th. Finally, Cantor Fitzgerald upgraded Verastem to a “strong-buy” rating in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

About Verastem

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.