Verastem (NASDAQ:VSTM) CEO Dan Paterson Sells 20,871 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM) 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 transaction of $87,240.78. Following the completion of the sale, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Price Performance

Shares of NASDAQ VSTM opened at $3.85 on Thursday. The firm has a market capitalization of $338.30 million, a P/E ratio of -1.43 and a beta of 0.27. The firm’s 50-day moving average price is $4.75 and its 200-day moving average price is $5.97. 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.

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently modified their holdings of the stock. Polar Capital Holdings Plc lifted its holdings in shares of Verastem by 270.7% in the fourth quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after purchasing an additional 2,866,350 shares in the last quarter. AIGH Capital Management LLC bought a new stake in Verastem during the first quarter worth $10,600,000. Farallon Capital Management LLC purchased a new stake in Verastem in the 4th quarter valued at $15,440,000. SymBiosis Capital Partners LLC purchased a new stake in Verastem in the 4th quarter valued at $15,440,000. Finally, Armistice Capital LLC raised its position in Verastem by 68.7% in the 4th quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock valued at $27,298,000 after buying an additional 1,440,000 shares during the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Verastem in a research report on Friday, May 8th. Mizuho reduced their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Royal Bank Of Canada restated an “outperform” rating and set a $15.00 price target on shares of Verastem in a research note on Wednesday. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Verastem in a report on Wednesday. Finally, BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Verastem in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued 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 target price of $14.60.

About Verastem

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.