Verastem (NASDAQ:VSTM) CFO Daniel Calkins Sells 4,089 Shares

Verastem, Inc. (NASDAQ:VSTM) CFO Daniel Calkins sold 4,089 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $17,092.02. Following the transaction, the chief financial officer directly owned 117,238 shares in the company, valued at approximately $490,054.84. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Verastem Stock Performance

NASDAQ VSTM traded down $0.36 during trading hours on Wednesday, hitting $3.85. The company’s stock had a trading volume of 2,969,526 shares, compared to its average volume of 2,127,708. Verastem, Inc. has a 12 month low of $3.55 and a 12 month high of $11.24. The company’s 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $6.02. The company has a market cap of $338.31 million, a P/E ratio of -1.43 and a beta of 0.27. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.

Hedge Funds Weigh In On Verastem

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Seven Fleet Capital Management LP grew its position in Verastem by 715.1% during the first quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company’s stock valued at $654,000 after buying an additional 108,260 shares during the period. Bank of America Corp DE raised its position in Verastem by 31.6% in the first quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company’s stock worth $2,210,000 after acquiring an additional 100,123 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Verastem during the 1st quarter worth $377,000. Royal Bank of Canada boosted its stake in shares of Verastem by 15.3% during the 1st quarter. Royal Bank of Canada now owns 110,729 shares of the biopharmaceutical company’s stock worth $587,000 after acquiring an additional 14,683 shares during the last quarter. Finally, Exome Asset Management LLC grew its position in shares of Verastem by 58.5% during the 1st quarter. Exome Asset Management LLC now owns 636,700 shares of the biopharmaceutical company’s stock valued at $3,375,000 after acquiring an additional 234,957 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on VSTM. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a research note on Saturday. Jefferies Financial Group dropped their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Verastem in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $18.00 target price on shares of Verastem in a research note on Wednesday. Finally, BTIG Research reissued a “buy” rating and set a $18.00 price target on shares of Verastem in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.60.

About Verastem

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.