Dan Paterson Sells 3,299 Shares of Verastem (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 3,299 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $9.74, for a total value of $32,132.26. Following the sale, the chief executive officer owned 438,818 shares in the company, valued at approximately $4,274,087.32. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Dan Paterson also recently made the following trade(s):

• On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The shares were sold at an average price of $9.99, for a total value of $3,896.10.

Verastem Trading Up 1.8%

Verastem stock opened at $8.07 on Friday. Verastem, Inc. has a one year low of $3.45 and a one year high of $11.24. The business’s fifty day moving average is $9.02 and its 200 day moving average is $7.38. The stock has a market capitalization of $538.91 million, a PE ratio of -2.00 and a beta of 0.89. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 3.44.

Verastem (NASDAQ:VSTM) last posted its earnings results 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 business had revenue of $11.24 million for the quarter, compared to analyst estimates of $5.76 million. On average, sell-side analysts predict that Verastem, Inc. will post -3.02 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. 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 bought a new position in shares of Verastem in the second quarter worth approximately $53,000. The Manufacturers Life Insurance Company boosted its position in shares of Verastem by 9.8% in the second 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. Profund Advisors LLC purchased a new stake in shares of Verastem in the second quarter worth $90,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Verastem during the 2nd quarter valued at $106,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VSTM has been the subject of a number of research reports. Cantor Fitzgerald upgraded shares of Verastem to a “strong-buy” rating in a research note on Thursday, October 30th. Mizuho set a $15.00 price objective on Verastem in a research report on Wednesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Verastem in a report on Tuesday, October 21st. Zacks Research raised Verastem from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, B. Riley upgraded Verastem to a “strong-buy” rating in a research note on Monday, August 25th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.29.

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.