Verastem (NASDAQ:VSTM) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Verastem, Inc. (NASDAQ:VSTM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.47 and traded as high as $6.10. Verastem shares last traded at $6.00, with a volume of 2,531,911 shares traded.

Wall Street Analyst Weigh In

A number of analysts have commented on VSTM shares. Mizuho decreased their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the company an “outperform” rating in a report on Tuesday, July 7th. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research report on Friday, May 8th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Verastem in a report on Wednesday, June 24th. Finally, Jefferies Financial Group dropped their price target on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. 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. Based on data from MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and an average target price of $14.40.

Verastem Trading Up 4.9%

The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. The firm has a market capitalization of $543.04 million, a P/E ratio of -2.29 and a beta of 0.29. The firm has a 50 day simple moving average of $4.44 and a two-hundred day simple moving average of $5.46.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the completion of the sale, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.94% of the company’s stock.

Hedge Funds Weigh In On Verastem

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Verastem in the 2nd quarter valued at $49,000. Nebula Research & Development LLC purchased a new stake in shares of Verastem during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company increased its position in shares of Verastem by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.