Dan Paterson Sells 2,000 Shares of Verastem (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 2,000 shares of Verastem stock in a transaction on Friday, November 28th. The stock was sold at an average price of $10.79, for a total transaction of $21,580.00. Following the completion of the transaction, the chief executive officer directly owned 428,818 shares of the company’s stock, valued at $4,626,946.22. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Wednesday, November 26th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was 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 shares were 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 stock was sold at an average price of $9.99, for a total value of $3,896.10.

Verastem Stock Performance

NASDAQ:VSTM opened at $9.78 on Wednesday. The firm has a market capitalization of $653.11 million, a PE ratio of -2.43 and a beta of 0.41. The stock’s fifty day moving average is $8.96 and its 200 day moving average is $7.65. Verastem, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $11.24. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The business had revenue of $11.24 million for the quarter, compared to the consensus estimate of $5.76 million. On average, sell-side analysts anticipate that Verastem, Inc. will post -3.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Mizuho set a $15.00 price objective on shares of Verastem in a research report on Wednesday, October 29th. B. Riley upgraded Verastem to a “strong-buy” rating in a report on Monday, August 25th. BTIG Research reissued a “buy” rating and set a $20.00 price target on shares of Verastem in a research note on Tuesday, September 9th. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its position in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,440 shares during the period. Aries Wealth Management increased its holdings in Verastem by 10.5% during the third quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock valued at $232,000 after buying an additional 2,500 shares during the period. Russell Investments Group Ltd. raised its stake in Verastem by 182.9% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Verastem by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company’s stock worth $710,000 after buying an additional 4,183 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 4,496 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Company Profile

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.