Key Points
- CEO Dan Paterson sold 2,000 shares on Dec. 3 at $10.00, leaving him with 422,818 shares — a 0.47% reduction in his stake.
- The Dec. 3 sale is part of a recent pattern of insider selling totaling about 15,689 shares (roughly $159,000) across multiple transactions since September.
- Verastem recently reported a large quarterly EPS miss (‑$1.35 vs. ‑$0.51 expected); the stock trades near $10.39 with a market cap of ~$694M and a consensus price target of $14.29 (Moderate Buy).
Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 2,000 shares of Verastem stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $10.00, for a total transaction of $20,000.00. Following the completion of the sale, the chief executive officer owned 422,818 shares in the company, valued at $4,228,180. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Dan Paterson also recently made the following trade(s):
- On Monday, December 1st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.39, for a total transaction of $20,780.00.
- On Friday, November 28th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.79, for a total transaction of $21,580.00.
- On Wednesday, November 26th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.32, for a total value of $20,640.00.
- On Monday, November 24th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total value of $20,000.00.
- On Friday, November 21st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.00, for a total value of $20,000.00.
- On Monday, November 3rd, Dan Paterson sold 3,299 shares of Verastem stock. The stock was sold at an average price of $9.74, for a total value of $32,132.26.
- On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The shares were sold at an average price of $9.99, for a total value of $3,896.10.
Verastem Stock Performance
NASDAQ VSTM traded down $0.21 on Friday, hitting $10.39. 152,604 shares of the stock were exchanged, compared to its average volume of 1,973,879. The company has a market capitalization of $694.11 million, a PE ratio of -2.58 and a beta of 0.41. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. The business's fifty day moving average is $9.03 and its 200 day moving average is $7.69. Verastem, Inc. has a 52 week low of $3.45 and a 52 week high of $11.24.
Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.84). The company had revenue of $11.24 million during the quarter, compared to analyst estimates of $5.76 million. Research analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in VSTM. Russell Investments Group Ltd. grew 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 worth $40,000 after buying an additional 2,960 shares during the last quarter. BNP Paribas Financial Markets raised its position 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 purchasing an additional 4,496 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Verastem during the second quarter valued at about $49,000. Nebula Research & Development LLC bought a new stake in shares of Verastem during the second quarter worth about $53,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 1,440 shares during the period. Institutional investors and hedge funds own 88.37% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on VSTM shares. Zacks Research downgraded Verastem from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 18th. Cantor Fitzgerald raised shares of Verastem to a "strong-buy" rating in a research report on Thursday, October 30th. Royal Bank Of Canada set a $13.00 target price on shares of Verastem and gave the stock an "outperform" rating in a report on Monday, October 20th. BTIG Research reissued a "buy" rating and issued a $20.00 price target on shares of Verastem in a report on Tuesday, September 9th. Finally, B. Riley upgraded shares of Verastem to a "strong-buy" rating in a research report on Monday, August 25th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.29.
Read Our Latest Stock Report on Verastem
Verastem Company Profile
(
Get Free Report)
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.
Further Reading
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