Armistice Capital LLC Increases Stock Holdings in Verastem, Inc. $VSTM

Armistice Capital LLC boosted its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 68.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,536,000 shares of the biopharmaceutical company’s stock after acquiring an additional 1,440,000 shares during the quarter. Armistice Capital LLC owned 0.05% of Verastem worth $27,298,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after purchasing an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets raised its position 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 in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Verastem in the 2nd quarter worth $49,000. DRW Securities LLC acquired a new position in Verastem during the 4th quarter valued at about $93,000. Finally, Nebula Research & Development LLC acquired a new position in Verastem during the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Trading Up 4.0%

Shares of VSTM stock opened at $4.17 on Thursday. The business’s 50 day moving average is $4.89 and its two-hundred day moving average is $6.19. Verastem, Inc. has a twelve month low of $3.55 and a twelve month high of $11.24. The company has a market capitalization of $366.42 million, a P/E ratio of -1.54 and a beta of 0.27. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on VSTM shares. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Mizuho dropped their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. BTIG Research lowered their price target on Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.60.

Verastem Company Profile

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.