Renaissance Technologies LLC boosted its position in shares of Verastem, Inc. (NASDAQ:VSTM) by 20.0% during the first quarter, Holdings Channel reports. The institutional investor owned 1,226,600 shares of the biopharmaceutical company’s stock after buying an additional 204,400 shares during the period. Renaissance Technologies LLC’s holdings in Verastem were worth $2,539,000 at the end of the most recent reporting period.

Separately, TFS Capital LLC purchased a new stake in shares of Verastem during the first quarter worth about $113,000. Institutional investors and hedge funds own 22.35% of the company’s stock.

Verastem, Inc. (NASDAQ VSTM) traded up 0.64% on Tuesday, reaching $3.13. 46,555 shares of the company’s stock were exchanged. Verastem, Inc. has a 1-year low of $1.05 and a 1-year high of $4.67. The company’s market capitalization is $115.78 million. The company has a 50 day moving average price of $3.33 and a 200-day moving average price of $2.18.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.02. On average, equities research analysts anticipate that Verastem, Inc. will post ($1.38) earnings per share for the current year.

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A number of equities research analysts recently issued reports on the stock. Cann reissued a “buy” rating and issued a $6.00 price objective on shares of Verastem in a report on Monday, June 26th. HC Wainwright set a $7.00 price objective on shares of Verastem and gave the company a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday. Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 price objective on shares of Verastem in a report on Thursday, May 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $1.50 price objective on shares of Verastem in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Verastem has an average rating of “Hold” and a consensus price target of $4.61.

Verastem Company Profile

Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.

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Institutional Ownership by Quarter for Verastem (NASDAQ:VSTM)

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