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

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 2,000 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $10.07, for a total value of $20,140.00. Following the transaction, the chief executive officer owned 412,818 shares of the company’s stock, valued at approximately $4,157,077.26. This represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, December 8th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.50, for a total transaction of $21,000.00.
• 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 shares were 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 shares were 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 1.9%

VSTM stock traded up $0.18 during midday trading on Friday, hitting $9.61. The company’s stock had a trading volume of 1,609,260 shares, compared to its average volume of 2,155,050. Verastem, Inc. has a 52-week low of $3.45 and a 52-week high of $11.24. The firm has a 50-day simple moving average of $9.17 and a 200-day simple moving average of $7.77. The company has a quick ratio of 2.55, a current ratio of 2.58 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $641.76 million, a P/E ratio of -2.38 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The firm had revenue of $11.24 million during the quarter, compared to analyst estimates of $5.76 million. As a group, equities analysts forecast that Verastem, Inc. will post -3.02 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Verastem by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company’s stock worth $30,720,000 after buying an additional 55,394 shares during the last quarter. BVF Inc. IL raised its position in shares of Verastem by 62.1% during the 2nd quarter. BVF Inc. IL now owns 3,404,425 shares of the biopharmaceutical company’s stock valued at $14,128,000 after acquiring an additional 1,303,957 shares in the last quarter. Nantahala Capital Management LLC lifted its stake in Verastem by 28.5% during the second quarter. Nantahala Capital Management LLC now owns 2,954,735 shares of the biopharmaceutical company’s stock worth $12,262,000 after purchasing an additional 656,194 shares during the last quarter. Vivo Capital LLC lifted its stake in Verastem by 71.9% during the third 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. Finally, Foresite Capital Management VI LLC boosted its holdings in Verastem by 104.9% in the third quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company’s stock worth $23,092,000 after purchasing an additional 1,338,600 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VSTM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, October 8th. Royal Bank Of Canada set a $13.00 price objective on shares of Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Verastem in a research report on Tuesday, October 21st. B. Riley upgraded shares of Verastem to a “strong-buy” rating in a research note on Monday, August 25th. Finally, BTIG Research reissued a “buy” rating and issued a $20.00 target price on shares of Verastem in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.