Insider Selling: Verastem (NASDAQ:VSTM) CEO Sells $352,968.00 in Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 44,121 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $8.00, for a total value of $352,968.00. Following the completion of the transaction, the chief executive officer owned 652,712 shares in the company, valued at $5,221,696. The trade was a 6.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Dan Paterson sold 1,302 shares of Verastem stock. The stock was sold at an average price of $5.81, for a total transaction of $7,564.62.

Verastem Price Performance

Shares of NASDAQ VSTM traded down $0.20 during mid-day trading on Friday, reaching $7.70. The company’s stock had a trading volume of 4,070,379 shares, compared to its average volume of 2,242,226. The stock has a 50-day moving average of $7.18 and a two-hundred day moving average of $5.75. The stock has a market capitalization of $697.31 million, a P/E ratio of -2.89 and a beta of 0.38. The company has a debt-to-equity ratio of 1.48, a quick ratio of 2.22 and a current ratio of 2.25. Verastem, Inc. has a 1-year low of $3.43 and a 1-year high of $10.82.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. The firm had revenue of $40.08 million for the quarter, compared to analyst estimates of $22.88 million. On average, equities research analysts anticipate that Verastem, Inc. will post -1.56 EPS for the current fiscal year.

Institutional Trading of Verastem

Hedge funds have recently made changes to their positions in the company. Seven Fleet Capital Management LP acquired a new stake in shares of Verastem during the 4th quarter worth approximately $117,000. Hsbc Holdings PLC purchased a new position in Verastem in the first quarter worth approximately $210,000. ADAR1 Capital Management LLC acquired a new stake in Verastem during the first quarter worth $377,000. Quantinno Capital Management LP acquired a new stake in Verastem during the first quarter worth $394,000. Finally, Knott David M Jr purchased a new stake in Verastem in the first quarter valued at $551,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VSTM shares. Wall Street Zen upgraded Verastem from a “sell” rating to a “hold” rating in a report on Sunday, September 27th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Verastem in a report on Friday, September 11th. Mizuho set a $13.00 price objective on Verastem and gave the stock an “outperform” rating in a research report on Monday, August 10th. Wolfe Research started coverage on Verastem in a research note on Thursday, September 17th. They set an “outperform” rating on the stock. Finally, Guggenheim set a $12.00 target price on Verastem and gave the company a “buy” rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.83.

Verastem Company Profile

Verastem Oncology 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 principal products include avutometinib, a RAF/MEK pathway inhibitor, and defactinib, a focal adhesion kinase (FAK) inhibitor. The company has studied these therapies both individually and in combination, with the goal of improving cancer-cell response and overcoming treatment resistance.