Key Points
- Verastem CEO Dan Paterson sold 20,871 shares on June 22 at an average price of $4.18, totaling about $87,241. After the sale, he still owned 591,242 shares, and the transaction was made under a pre-arranged Rule 10b5-1 plan.
- Verastem shares were down 8.6% and traded at $3.85, near the bottom of their 52-week range of $3.55 to $11.24. The stock remains volatile, with a market cap of about $338.3 million and a beta of 0.27.
- Wall Street remains mostly positive on the stock despite some mixed target changes. The consensus rating is “Moderate Buy,” with an average price target of $14.60, though Jefferies cut its target to $8.00 while other firms reiterated buy or outperform ratings.
Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CFO Daniel Calkins sold 4,089 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $17,092.02. Following the transaction, the chief financial officer owned 117,238 shares of the company's stock, valued at $490,054.84. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Verastem Stock Down 8.6%
Verastem stock opened at $3.85 on Thursday. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. Verastem, Inc. has a 1-year low of $3.55 and a 1-year high of $11.24. The company has a fifty day simple moving average of $4.75 and a 200 day simple moving average of $5.97. The company has a market cap of $338.30 million, a P/E ratio of -1.43 and a beta of 0.27.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. BTIG Research restated a "buy" rating and issued a $18.00 price objective on shares of Verastem in a report on Wednesday. Wall Street Zen lowered Verastem from a "hold" rating to a "sell" rating in a report on Saturday, June 20th. Alliance Global Partners reissued a "buy" rating on shares of Verastem in a research report on Friday, May 8th. Jefferies Financial Group lowered their price target on Verastem from $15.00 to $8.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Weiss Ratings cut Verastem from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.60.
Get Our Latest Stock Report on VSTM
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Verastem by 78.2% in 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 during the period. Goldman Sachs Group Inc. grew its holdings in Verastem by 236.9% during the first quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company's stock worth $4,561,000 after purchasing an additional 531,873 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 238,995 shares during the period. Rhumbline Advisers grew 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 purchasing an additional 9,594 shares during the period. Finally, Invesco Ltd. increased its position 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 during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.
Verastem Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
