Cornercap Investment Counsel Inc. Has $35,000 Position in Verastem, Inc. (NASDAQ:VSTM)

Cornercap Investment Counsel Inc. decreased its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 52.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,810 shares of the biopharmaceutical company’s stock after selling 13,254 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Verastem were worth $35,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSTM. Nantahala Capital Management LLC bought a new stake in shares of Verastem during the second quarter worth approximately $1,192,000. SG Americas Securities LLC bought a new stake in shares of Verastem in the third quarter valued at about $43,000. Vanguard Group Inc. grew its stake in shares of Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after acquiring an additional 10,678 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Verastem in the 2nd quarter worth about $203,000. Finally, Acadian Asset Management LLC bought a new stake in Verastem in the 2nd quarter valued at about $82,000. 88.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

VSTM has been the subject of several recent research reports. B. Riley cut their price target on Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Verastem in a report on Friday, October 18th. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Verastem in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.57.

Verastem Trading Up 3.7 %

VSTM opened at $3.96 on Wednesday. The company’s 50 day moving average is $3.26 and its 200-day moving average is $3.96. The company has a market cap of $176.26 million, a P/E ratio of -1.24 and a beta of 0.14. Verastem, Inc. has a 1-year low of $2.10 and a 1-year high of $14.22. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. Equities research analysts predict that Verastem, Inc. will post -3.24 earnings per share for the current fiscal year.

Verastem Company Profile

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.