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

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction dated 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 directly owned 591,242 shares in the company, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Price Performance

NASDAQ:VSTM traded down $0.36 during mid-day trading on Wednesday, reaching $3.85. The stock had a trading volume of 2,969,526 shares, compared to its average volume of 2,127,708. The stock has a market capitalization of $338.31 million, a P/E ratio of -1.43 and a beta of 0.27. The firm has a 50 day moving average price of $4.79 and a two-hundred day moving average price of $6.02. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. Verastem, Inc. has a one year low of $3.55 and a one year high of $11.24.

Institutional Investors Weigh In On Verastem

Several institutional investors have recently added to or reduced their stakes in VSTM. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Verastem during the second quarter valued at about $49,000. Nebula Research & Development LLC purchased a new stake in shares of Verastem during the second quarter worth about $53,000. The Manufacturers Life Insurance Company boosted its holdings 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 worth $67,000 after purchasing an additional 1,440 shares during the period. Finally, BNP Paribas Financial Markets grew its stake 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 purchasing an additional 4,496 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VSTM. Weiss Ratings cut shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Verastem in a research report on Wednesday. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Verastem in a research note on Wednesday. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.60.

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.