Insider Selling: Verastem (NASDAQ:VSTM) CFO Sells $20,528.00 in Stock

by · The Markets Daily

Verastem, Inc. (NASDAQ:VSTM – Get Free Report) CFO Daniel Calkins sold 2,566 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $8.00, for a total value of $20,528.00. Following the sale, the chief financial officer owned 123,781 shares of the company’s stock, valued at approximately $990,248. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Calkins also recently made the following trade(s):

  • On Monday, September 21st, Daniel Calkins sold 55 shares of Verastem stock. The shares were sold at an average price of $7.70, for a total value of $423.50.

Verastem Price Performance

Shares of VSTM stock opened at $7.70 on Monday. The stock’s 50 day simple moving average is $7.21 and its 200 day simple moving average is $5.76. Verastem, Inc. has a twelve month low of $3.43 and a twelve month high of $10.82. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.22 and a current ratio of 2.25. The company has a market capitalization of $697.31 million, a price-to-earnings ratio of -2.89 and a beta of 0.39.

Verastem (NASDAQ:VSTM – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Verastem had a negative return on equity of 467.49% and a negative net margin of 231.59%.The firm had revenue of $40.08 million during the quarter, compared to analysts’ expectations of $22.88 million. As a group, research analysts predict that Verastem, Inc. will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in Verastem by 15.3% during the first quarter. Royal Bank of Canada now owns 110,729 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 14,683 shares during the period. Seven Fleet Capital Management LP acquired a new stake in Verastem during the fourth quarter valued at approximately $117,000. Bank of New York Mellon Corp grew its stake in shares of Verastem by 31.8% in the 1st quarter. Bank of New York Mellon Corp now owns 161,707 shares of the biopharmaceutical company’s stock valued at $857,000 after purchasing an additional 39,018 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Verastem in the 1st quarter valued at approximately $210,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Verastem in the 1st quarter worth approximately $377,000. 88.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. BTIG Research reiterated a “buy” rating and issued a $18.00 target price on shares of Verastem in a research note on Friday, September 11th. Royal Bank Of Canada set a $14.00 target price on shares of Verastem and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Wolfe Research started coverage on shares of Verastem in a report on Thursday, September 17th. They set an “outperform” rating for the company. Mizuho set a $13.00 price target on Verastem and gave the company an “outperform” rating in a research report on Monday, August 10th. Finally, Guggenheim set a $12.00 price objective on Verastem and gave the stock a “buy” rating in a research note on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.83.

Read Our Latest Stock Analysis on VSTM

Verastem Company Profile

(Get Free Report)

Verastem Oncology (NASDAQ:VSTM) is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company’s research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.

Verastem’s lead product, avutometinib, is a treatment targeting the RAF/MEK signaling pathway and is marketed in the United States under the brand name Avmapki for certain patients with recurrent low-grade serous ovarian cancer.

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