Dan Paterson Sells 2,000 Shares of Verastem (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $10.00, for a total value of $20,000.00. Following the completion of the sale, the chief executive officer owned 422,818 shares in the company, valued at approximately $4,228,180. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 1st, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.39, for a total value of $20,780.00.
• On Friday, November 28th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.79, for a total value of $21,580.00.
• On Wednesday, November 26th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.32, for a total value of $20,640.00.
• On Monday, November 24th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total value of $20,000.00.
• On Friday, November 21st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.00, for a total value of $20,000.00.
• On Monday, November 3rd, Dan Paterson sold 3,299 shares of Verastem stock. The shares were sold at an average price of $9.74, for a total transaction of $32,132.26.
• On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The stock was sold at an average price of $9.99, for a total transaction of $3,896.10.

Verastem Stock Up 5.4%

Shares of NASDAQ:VSTM traded up $0.54 during trading on Thursday, hitting $10.60. 1,736,695 shares of the company were exchanged, compared to its average volume of 1,981,936. The firm’s 50 day moving average price is $8.99 and its 200-day moving average price is $7.67. Verastem, Inc. has a 12-month low of $3.45 and a 12-month high of $11.24. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. The stock has a market capitalization of $707.87 million, a P/E ratio of -2.63 and a beta of 0.41.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The company had revenue of $11.24 million for the quarter, compared to analysts’ expectations of $5.76 million. On average, research analysts predict that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on VSTM shares. Zacks Research cut Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of Verastem in a research note on Tuesday, September 9th. Mizuho set a $15.00 price objective on Verastem in a research note on Wednesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Verastem in a report on Tuesday, October 21st. Finally, Wall Street Zen cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

Institutional Inflows and Outflows

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

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.