Verastem (NASDAQ:VSTM) CFO Daniel Calkins Sells 4,089 Shares

Verastem, Inc. (NASDAQ:VSTM) CFO Daniel Calkins sold 4,089 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $17,092.02. Following the completion of the sale, the chief financial officer owned 117,238 shares of the company’s stock, valued at approximately $490,054.84. This represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Stock Performance

Shares of Verastem stock opened at $3.85 on Thursday. The stock’s fifty day simple moving average is $4.75 and its 200 day simple moving average is $5.97. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $338.30 million, a PE ratio of -1.43 and a beta of 0.27. Verastem, Inc. has a 12 month low of $3.55 and a 12 month high of $11.24.

Institutional Trading of Verastem

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in shares of Verastem by 78.2% during the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 27,477 shares during the period. Goldman Sachs Group Inc. raised its position in Verastem by 236.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock valued at $4,561,000 after buying an additional 531,873 shares during the last quarter. Geode Capital Management LLC lifted its stake in Verastem by 24.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock valued at $4,978,000 after acquiring an additional 238,995 shares in the last quarter. Rhumbline Advisers lifted its stake in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Verastem by 40.0% during the 2nd quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 14,879 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

VSTM has been the topic of several recent analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a report on Friday, May 8th. Wall Street Zen cut Verastem from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Royal Bank Of Canada restated an “outperform” rating and set a $15.00 target price on shares of Verastem in a report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Wednesday. Finally, Mizuho reduced their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.60.

About Verastem

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.