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 that occurred on Friday, November 21st. The stock was sold at an average price of $10.00, for a total value of $20,000.00. Following the transaction, the chief executive officer owned 436,818 shares in the company, valued at $4,368,180. This represents a 0.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, November 24th, 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 shares were 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 transaction of $3,896.10.

Verastem Stock Performance

VSTM stock traded up $0.41 on Tuesday, hitting $10.25. The company’s stock had a trading volume of 1,820,292 shares, compared to its average volume of 1,987,401. The stock has a market cap of $684.50 million, a price-to-earnings ratio of -2.54 and a beta of 0.89. The firm has a 50 day moving average of $8.82 and a two-hundred day moving average of $7.52. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 2.06. Verastem, Inc. has a 1 year low of $3.45 and a 1 year high of $11.24.

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 the consensus estimate of ($0.51) by ($0.84). The business had revenue of $11.24 million for the quarter, compared to the consensus estimate of $5.76 million. Equities analysts predict that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Verastem in a research note on Tuesday, October 21st. Zacks Research cut Verastem from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. B. Riley raised Verastem to a “strong-buy” rating in a report on Monday, August 25th. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.29.

Check Out Our Latest Analysis on VSTM

Hedge Funds Weigh In On Verastem

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Verastem by 110.9% during 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. acquired a new stake in shares of Verastem in the 2nd quarter worth approximately $49,000. Nebula Research & Development LLC acquired a new stake in shares of Verastem in the 2nd quarter worth approximately $53,000. Finally, The Manufacturers Life Insurance Company increased its stake in Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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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