Quantinno Capital Management LP acquired a new position in Verastem, Inc. (NASDAQ:VSTM – Free Report) during the 1st quarter, HoldingsChannel reports. The fund acquired 74,285 shares of the biopharmaceutical company’s stock, valued at approximately $394,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its holdings in shares of 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. lifted its stake in shares of Verastem by 236.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after purchasing an additional 531,873 shares during the period. Geode Capital Management LLC boosted its holdings in Verastem by 24.9% during the second quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock worth $4,978,000 after buying an additional 238,995 shares in the last quarter. Rhumbline Advisers boosted its holdings in Verastem by 19.2% during the second quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock worth $247,000 after buying an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Verastem by 40.0% during the second quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 14,879 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.
Insider Transactions at Verastem
In other Verastem news, CEO Dan Paterson sold 20,871 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,262 shares of company stock worth $111,897 over the last quarter. Company insiders own 1.94% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Research Report on VSTM
Verastem Trading Up 1.0%
Shares of NASDAQ:VSTM opened at $6.89 on Friday. The business’s 50 day moving average price is $5.49 and its 200-day moving average price is $5.42. Verastem, Inc. has a 1 year low of $3.43 and a 1 year high of $11.24. The firm has a market capitalization of $623.96 million, a price-to-earnings ratio of -2.59 and a beta of 0.26. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.25 and a quick ratio of 2.22.
Verastem (NASDAQ:VSTM – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $40.08 million during the quarter, compared to analyst estimates of $22.88 million. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. On average, equities research analysts forecast that Verastem, Inc. will post -1.56 earnings per share for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Verastem
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding VSTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verastem, Inc. (NASDAQ:VSTM – Free Report).
Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.
