Verastem, Inc. $VSTM Shares Acquired by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP boosted its stake in shares of Verastem, Inc. (NASDAQ:VSTM) by 715.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 123,400 shares of the biopharmaceutical company’s stock after purchasing an additional 108,260 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Verastem were worth $654,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 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 purchased a new position in shares of Verastem during the 1st quarter worth approximately $10,600,000. Farallon Capital Management LLC purchased a new position in shares of Verastem during the 4th quarter worth approximately $15,440,000. SymBiosis Capital Partners LLC acquired a new position in shares of Verastem during the 4th quarter worth approximately $15,440,000. Finally, Armistice Capital LLC raised its position in shares of Verastem by 68.7% during the 4th 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. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Price Performance

Verastem stock opened at $5.80 on Friday. Verastem, Inc. has a 1 year low of $3.43 and a 1 year high of $11.24. The firm has a 50 day moving average price of $4.69 and a 200 day moving average price of $5.41. The company has a market cap of $509.65 million, a price-to-earnings ratio of -2.15 and a beta of 0.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a report on Friday, May 8th. Royal Bank Of Canada set a $14.00 price target on Verastem and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Wall Street Zen upgraded Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Verastem in a research note on Thursday, July 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Verastem in a research report on Wednesday, June 24th. Two research 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 stock. Based on data from MarketBeat, Verastem presently has an average rating of “Moderate Buy” and an average target price of $14.40.

Insiders Place Their Bets

In other Verastem 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 owned 591,242 shares in the company, valued at $2,471,391.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is currently owned by corporate insiders.

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.