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

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $10.50, for a total transaction of $21,000.00. Following the sale, the chief executive officer directly owned 416,818 shares in the company, valued at approximately $4,376,589. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, December 5th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.61, for a total transaction of $21,220.00.
• On Wednesday, December 3rd, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total transaction of $20,000.00.
• On Monday, December 1st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.39, for a total transaction 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 stock was sold at an average price of $9.74, for a total value 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 value of $3,896.10.

Verastem Stock Performance

NASDAQ VSTM traded down $0.13 during trading hours on Tuesday, reaching $10.12. The stock had a trading volume of 2,047,317 shares, compared to its average volume of 1,974,121. Verastem, Inc. has a 52-week low of $3.45 and a 52-week high of $11.24. The stock has a fifty day moving average of $9.09 and a 200 day moving average of $7.72. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58. The stock has a market cap of $675.81 million, a P/E ratio of -2.51 and a beta of 0.41.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data 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 business had revenue of $11.24 million for the quarter, compared to analyst estimates of $5.76 million. Sell-side analysts predict that Verastem, Inc. will post -3.02 earnings per share for the current year.

Hedge Funds Weigh In On Verastem

A number of large investors have recently added to or reduced their stakes in VSTM. Woodline Partners LP purchased a new position in Verastem during the third quarter valued at $2,716,000. Vivo Capital LLC raised its position in shares of Verastem by 71.9% during the 3rd quarter. Vivo Capital LLC now owns 2,644,985 shares of the biopharmaceutical company’s stock worth $23,355,000 after purchasing an additional 1,106,524 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Verastem during the 3rd quarter worth about $1,252,000. Polar Capital Holdings Plc lifted its stake in Verastem by 5.9% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,058,776 shares of the biopharmaceutical company’s stock valued at $9,349,000 after buying an additional 58,776 shares in the last quarter. Finally, Polymer Capital Management HK LTD acquired a new stake in Verastem in the 3rd quarter worth about $2,735,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VSTM. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. Mizuho set a $15.00 price target on Verastem in a research report on Wednesday, October 29th. Wall Street Zen lowered Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of Verastem from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.29.

About Verastem

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.