Dan Paterson Sells 20,871 Shares of Verastem (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer owned 591,242 shares in the company, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Stock Performance

Shares of VSTM opened at $3.45 on Friday. The business has a 50-day simple moving average of $4.70 and a two-hundred day simple moving average of $5.92. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89. Verastem, Inc. has a 52 week low of $3.43 and a 52 week high of $11.24. The stock has a market cap of $303.15 million, a price-to-earnings ratio of -1.28 and a beta of 0.27.

Institutional Trading of Verastem

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

Analysts Set New Price Targets

VSTM has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Mizuho dropped their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Royal Bank Of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Verastem in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Verastem in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Verastem currently has a consensus rating of “Moderate Buy” and an average price target 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.