Verastem (NASDAQ:VSTM) Director Paul Bunn Sells 8,333 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM) Director Paul Bunn sold 8,333 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $9.06, for a total value of $75,496.98. Following the completion of the transaction, the director owned 8,333 shares of the company’s stock, valued at $75,496.98. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Verastem Stock Performance

Shares of VSTM stock opened at $9.00 on Wednesday. Verastem, Inc. has a one year low of $2.54 and a one year high of $11.24. The company has a debt-to-equity ratio of 2.06, a quick ratio of 3.44 and a current ratio of 3.46. The company has a 50 day moving average price of $8.84 and a 200 day moving average price of $6.97. The firm has a market capitalization of $553.91 million, a price-to-earnings ratio of -2.74 and a beta of 0.89.

Verastem (NASDAQ:VSTM) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.25. The firm had revenue of $2.14 million for the quarter, compared to analyst estimates of $6.01 million. Sell-side analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Verastem

Several hedge funds and other institutional investors have recently made changes to their positions in VSTM. The Manufacturers Life Insurance Company grew its position 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 buying an additional 1,440 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Verastem by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company’s stock valued at $710,000 after acquiring an additional 4,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Verastem by 28.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,945 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 6,691 shares in the last quarter. Intech Investment Management LLC boosted its stake in Verastem by 35.9% during the 2nd quarter. Intech Investment Management LLC now owns 27,833 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 7,352 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 9,594 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VSTM has been the subject of a number of recent research reports. B. Riley upgraded Verastem to a “strong-buy” rating in a research note on Monday, August 25th. Wall Street Zen raised shares of Verastem from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Zacks Research upgraded Verastem to a “hold” rating in a research note on Tuesday, August 12th. Royal Bank Of Canada lifted their price target on Verastem from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, October 8th. One equities research analyst has 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.29.

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.