SG Americas Securities LLC Has $1.14 Million Stake in Verastem, Inc. $VSTM

SG Americas Securities LLC lowered its stake in shares of Verastem, Inc. (NASDAQ:VSTM) by 44.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,004 shares of the biopharmaceutical company’s stock after selling 175,321 shares during the quarter. SG Americas Securities LLC’s holdings in Verastem were worth $1,140,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VSTM. RTW Investments LP increased its stake in Verastem by 21.2% during the 4th quarter. RTW Investments LP now owns 6,576,306 shares of the biopharmaceutical company’s stock worth $50,769,000 after acquiring an additional 1,150,000 shares during the period. Polar Capital Holdings Plc lifted its position in shares of Verastem by 270.7% during the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock valued at $30,302,000 after acquiring an additional 2,866,350 shares during the period. Armistice Capital LLC grew its holdings in shares of Verastem by 68.7% during the 4th quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock worth $27,298,000 after purchasing an additional 1,440,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Verastem by 1.6% in the third quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company’s stock worth $30,720,000 after purchasing an additional 55,394 shares during the period. Finally, State Street Corp increased its position in shares of Verastem by 44.5% in the fourth quarter. State Street Corp now owns 3,219,295 shares of the biopharmaceutical company’s stock worth $24,853,000 after purchasing an additional 990,655 shares during the period. Institutional investors own 88.37% of the company’s stock.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer owned 591,242 shares in the company, valued at $2,471,391.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is owned by company insiders.

Verastem Price Performance

Verastem stock opened at $4.50 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. Verastem, Inc. has a 52 week low of $3.43 and a 52 week high of $11.24. The stock has a market capitalization of $395.42 million, a P/E ratio of -1.67 and a beta of 0.29. The stock has a fifty day moving average of $4.43 and a 200-day moving average of $5.71.

Wall Street Analysts Forecast Growth

VSTM has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of Verastem in a research report on Thursday. Mizuho decreased their target price on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Weiss Ratings cut shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Jefferies Financial Group dropped their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.60.

Verastem Company Profile

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.