Squarepoint Ops LLC Raises Position in Verastem, Inc. $VSTM

Squarepoint Ops LLC grew its stake in Verastem, Inc. (NASDAQ:VSTM) by 2,995.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 351,569 shares of the biopharmaceutical company’s stock after purchasing an additional 340,212 shares during the period. Squarepoint Ops LLC’s holdings in Verastem were worth $1,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. E Fund Management Co. Ltd. bought a new position in shares of Verastem during the 2nd quarter valued at approximately $49,000. Nebula Research & Development LLC purchased a new position in Verastem during the second quarter worth $53,000. The Manufacturers Life Insurance Company increased its position in Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 1,440 shares during the last quarter. Profund Advisors LLC purchased a new stake in shares of Verastem in the second quarter valued at $90,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Verastem in the second quarter valued at $106,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Cantor Fitzgerald raised shares of Verastem to a “strong-buy” rating in a research note on Thursday, October 30th. Wall Street Zen lowered Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Verastem in a report on Wednesday, October 8th. Royal Bank Of Canada set a $13.00 price target on Verastem and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Mizuho set a $15.00 price objective on Verastem in a report on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Verastem presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Insider Transactions at Verastem

In other news, Director Michael Kauffman sold 8,550 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $10.00, for a total transaction of $85,500.00. Following the transaction, the director owned 8,666 shares in the company, valued at approximately $86,660. This trade represents a 49.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul A. Bunn sold 8,333 shares of the company’s stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $9.06, for a total transaction of $75,496.98. Following the completion of the sale, the director directly owned 8,333 shares of the company’s stock, valued at approximately $75,496.98. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 45,782 shares of company stock valued at $453,327. 2.10% of the stock is currently owned by corporate insiders.

Verastem Stock Performance

Verastem stock opened at $7.76 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58. The company has a market capitalization of $518.21 million, a PE ratio of -1.93 and a beta of 0.41. The company has a 50 day moving average price of $9.11 and a 200-day moving average price of $7.80. Verastem, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $11.24.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The company had revenue of $11.24 million during the quarter, compared to the consensus estimate of $5.76 million. As a group, equities analysts forecast that Verastem, Inc. will post -3.02 earnings per share for the current year.

Verastem Profile

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.