Verastem (NASDAQ:VSTM) Sees Unusually-High Trading Volume – Here’s Why

Verastem, Inc. (NASDAQ:VSTMGet Free Report) shares saw unusually-strong trading volume on Wednesday . 3,140,160 shares traded hands during mid-day trading, an increase of 43% from the previous session’s volume of 2,199,969 shares.The stock last traded at $7.8450 and had previously closed at $7.61.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on VSTM shares. BTIG Research reiterated a “buy” rating and set a $18.00 price target on shares of Verastem in a report on Thursday, July 2nd. Jefferies Financial Group decreased their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Mizuho set a $13.00 target price on shares of Verastem and gave the stock an “outperform” rating in a research note on Monday, August 10th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Verastem in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the stock an “outperform” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.83.

View Our Latest Stock Analysis on Verastem

Verastem Stock Performance

The company has a current ratio of 2.25, a quick ratio of 2.22 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $720.40 million, a price-to-earnings ratio of -2.99 and a beta of 0.32. The stock’s fifty day simple moving average is $5.92 and its 200-day simple moving average is $5.45.

Verastem (NASDAQ:VSTMGet Free Report) last posted 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 business had revenue of $40.08 million during the quarter, compared to the consensus estimate of $22.88 million. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. Analysts predict that Verastem, Inc. will post -1.56 EPS for the current year.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 20,871 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 $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares in the company, valued at $2,471,391.56. This trade represents a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 26,262 shares of company stock valued at $111,897. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Verastem

Several hedge funds and other institutional investors have recently bought and sold shares of VSTM. RTW Investments LP increased its stake in shares of Verastem by 21.2% during the 4th quarter. RTW Investments LP now owns 6,576,306 shares of the biopharmaceutical company’s stock worth $50,769,000 after purchasing an additional 1,150,000 shares in the last quarter. Polar Capital Holdings Plc grew its holdings in Verastem by 270.7% in the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after buying an additional 2,866,350 shares during the period. Armistice Capital LLC increased its position in Verastem by 68.7% during the fourth quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock worth $27,298,000 after purchasing an additional 1,440,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Verastem by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company’s stock valued at $30,720,000 after purchasing an additional 55,394 shares during the last quarter. Finally, State Street Corp raised its position in shares of Verastem by 44.5% in the 4th quarter. State Street Corp now owns 3,219,295 shares of the biopharmaceutical company’s stock worth $24,853,000 after buying an additional 990,655 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

About Verastem

(Get Free Report)

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.

Further Reading

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