Verastem, Inc. (NASDAQ:VSTM – Get Free Report) CFO Daniel Calkins sold 4,089 shares of Verastem stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $17,092.02. Following the sale, the chief financial officer directly owned 117,238 shares of the company’s stock, valued at approximately $490,054.84. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Verastem Price Performance
Shares of VSTM stock opened at $3.45 on Friday. The company has a market cap of $303.15 million, a P/E ratio of -1.28 and a beta of 0.27. The stock’s 50-day moving average is $4.70 and its 200 day moving average is $5.92. Verastem, Inc. has a 1-year low of $3.43 and a 1-year high of $11.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.
Analyst Ratings Changes
VSTM has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Verastem in a research note on Wednesday. Weiss Ratings downgraded Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. BTIG Research reiterated a “buy” rating and set a $18.00 price objective on shares of Verastem in a report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and issued a $15.00 price objective on shares of Verastem in a research report on Wednesday. Finally, Mizuho reduced their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Verastem has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.
Institutional Trading of Verastem
Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Verastem by 78.2% during the 1st quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 27,477 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Verastem by 236.9% during the first quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after buying an additional 531,873 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Verastem by 24.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock valued at $4,978,000 after acquiring an additional 238,995 shares during the period. Rhumbline Advisers increased its position in shares of Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 9,594 shares during the period. Finally, Invesco Ltd. raised its stake in Verastem by 40.0% in the 2nd quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 14,879 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.
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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