Insider Selling: Verastem (NASDAQ:VSTM) CEO Sells 2,000 Shares of Stock

by · The Markets Daily

Verastem, Inc. (NASDAQ:VSTM – Get Free Report) CEO Dan Paterson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $10.32, for a total value of $20,640.00. Following the completion of the transaction, the chief executive officer directly owned 430,818 shares of the company’s stock, valued at approximately $4,446,041.76. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

  • 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 stock was sold at an average price of $10.79, for a total transaction of $21,580.00.
  • On Monday, November 24th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total transaction 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 stock was sold at an average price of $9.74, for a total value of $32,132.26.
  • On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The shares were sold at an average price of $9.99, for a total value of $3,896.10.

Verastem Price Performance

NASDAQ:VSTM traded down $0.30 during trading hours on Monday, reaching $10.34. The company had a trading volume of 2,662,022 shares, compared to its average volume of 1,987,696. 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 stock has a 50-day moving average of $8.92 and a two-hundred day moving average of $7.62. Verastem, Inc. has a one year low of $3.45 and a one year high of $11.24. The firm has a market capitalization of $690.51 million, a PE ratio of -2.57 and a beta of 0.41.

Verastem (NASDAQ:VSTM – Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.84). The business had revenue of $11.24 million during the quarter, compared to the consensus estimate of $5.76 million. Analysts forecast that Verastem, Inc. will post -3.02 earnings per share for the current year.

Institutional Trading of Verastem

A number of large investors have recently made changes to their positions in VSTM. Jefferies Financial Group Inc. acquired a new stake in Verastem during the 1st quarter worth $1,631,000. Charles Schwab Investment Management Inc. grew its stake in Verastem by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company’s stock valued at $710,000 after acquiring an additional 4,183 shares during the period. Deutsche Bank AG increased its holdings in shares of Verastem by 61.9% in the first quarter. Deutsche Bank AG now owns 39,079 shares of the biopharmaceutical company’s stock worth $236,000 after acquiring an additional 14,941 shares in the last quarter. Invesco Ltd. raised its position in shares of Verastem by 153.3% during the first quarter. Invesco Ltd. now owns 37,184 shares of the biopharmaceutical company’s stock worth $224,000 after purchasing an additional 22,504 shares during the period. Finally, Nuveen LLC bought a new position in shares of Verastem during the 1st quarter valued at about $305,000. Institutional investors own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

VSTM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a report on Thursday, October 30th. Royal Bank Of Canada set a $13.00 price target on Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. Mizuho set a $15.00 price objective on Verastem in a research report on Wednesday, October 29th. Finally, B. Riley upgraded Verastem to a “strong-buy” rating in a report on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Check Out Our Latest Report on VSTM

Verastem Company Profile

(Get Free Report)

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.

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