Verastem, Inc. (NASDAQ:VSTM – Get Free Report) CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total value of $87,240.78. Following the completion of the transaction, the chief executive officer owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Verastem Price Performance
Shares of VSTM traded down $0.36 during midday trading on Wednesday, hitting $3.85. 2,969,526 shares of the company traded hands, compared to its average volume of 2,127,708. The stock has a 50-day moving average of $4.79 and a 200-day moving average of $6.02. Verastem, Inc. has a one year low of $3.55 and a one year high of $11.24. The firm has a market cap of $338.31 million, a P/E ratio of -1.43 and a beta of 0.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.
Institutional Trading of Verastem
Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its holdings in shares of Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 2,960 shares during the last quarter. BNP Paribas Financial Markets increased its stake 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 during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Verastem during the second quarter valued at about $49,000. DRW Securities LLC purchased a new stake in Verastem during the fourth quarter valued at about $93,000. Finally, Nebula Research & Development LLC bought a new stake in Verastem during the second quarter worth about $53,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Report on VSTM
Verastem Company Profile
Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.
The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.
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