Verastem (NASDAQ:VSTM) CFO Daniel Calkins Sells 4,089 Shares

Verastem, Inc. (NASDAQ:VSTM) CFO Daniel Calkins sold 4,089 shares of Verastem stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $17,092.02. Following the sale, the chief financial officer owned 117,238 shares in the company, valued at $490,054.84. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Stock Down 8.6%

VSTM stock traded down $0.36 during midday trading on Wednesday, hitting $3.85. The stock had a trading volume of 2,969,526 shares, compared to its average volume of 2,127,708. The business has a 50-day moving average of $4.79 and a two-hundred day moving average of $6.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The firm has a market cap of $338.31 million, a price-to-earnings ratio of -1.43 and a beta of 0.27. Verastem, Inc. has a 52-week low of $3.55 and a 52-week high of $11.24.

Hedge Funds Weigh In On Verastem

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of Verastem by 78.2% during the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 27,477 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Verastem by 236.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock worth $4,561,000 after acquiring an additional 531,873 shares during the last quarter. Geode Capital Management LLC lifted its position in Verastem by 24.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock valued at $4,978,000 after acquiring an additional 238,995 shares in the last quarter. Rhumbline Advisers lifted its position in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 9,594 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Verastem by 40.0% during the 2nd quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 14,879 shares during the last quarter. Institutional investors own 88.37% of the company’s stock.

Analyst Ratings Changes

VSTM has been the topic of a number of recent research reports. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and set a $15.00 price objective on shares of Verastem in a research note on Wednesday. Jefferies Financial Group cut their price objective on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Verastem in a report on Wednesday. Finally, Mizuho dropped their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Two investment 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’s stock. Based on data from MarketBeat, Verastem presently has an average 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.