Verastem Inc (VSTM) Short Interest Update
Verastem Inc (NASDAQ:VSTM) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 823,101 shares, a decrease of 48.9% from the July 31st total of 1,609,275 shares. Based on an average trading volume of 468,760 shares, the short-interest ratio is presently 1.8 days. Currently, 2.6% of the shares of the stock are sold short.
Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its stake in shares of Verastem by 20.0% in the first quarter. Renaissance Technologies LLC now owns 1,226,600 shares of the biopharmaceutical company’s stock valued at $2,539,000 after buying an additional 204,400 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Verastem by 10.3% in the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock valued at $2,493,000 after buying an additional 107,029 shares during the last quarter. Artal Group S.A. purchased a new stake in shares of Verastem during the second quarter valued at $1,090,000. Howland Capital Management LLC increased its stake in shares of Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 41,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Verastem by 697.6% in the second quarter. Dimensional Fund Advisors LP now owns 289,828 shares of the biopharmaceutical company’s stock valued at $632,000 after buying an additional 253,492 shares during the last quarter. 24.19% of the stock is currently owned by institutional investors and hedge funds.
Verastem (NASDAQ VSTM) opened at 3.92 on Friday. Verastem has a 12 month low of $1.05 and a 12 month high of $4.67. The firm has a 50 day moving average of $3.50 and a 200-day moving average of $2.38. The firm’s market cap is $145.01 million.
Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by $0.02. On average, equities research analysts forecast that Verastem will post ($1.38) earnings per share for the current year.
A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Thursday, July 13th. ValuEngine downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research report on Friday. Cann reiterated a “buy” rating and issued a $6.00 price objective on shares of Verastem in a research report on Tuesday, July 25th. HC Wainwright set a $7.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. set a $6.00 price objective on shares of Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.61.
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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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