Dan Paterson Sells 17,808 Shares of Verastem, Inc. (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 17,808 shares of Verastem stock in a transaction on Friday, June 20th. The shares were sold at an average price of $5.13, for a total transaction of $91,355.04. Following the completion of the transaction, the chief executive officer now owns 443,839 shares in the company, valued at approximately $2,276,894.07. This represents a 3.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, June 16th, Dan Paterson sold 335 shares of Verastem stock. The stock was sold at an average price of $5.65, for a total transaction of $1,892.75.
• On Tuesday, May 20th, Dan Paterson sold 58,677 shares of Verastem stock. The shares were sold at an average price of $8.13, for a total value of $477,044.01.
• On Monday, May 5th, Dan Paterson sold 820 shares of Verastem stock. The stock was sold at an average price of $7.30, for a total value of $5,986.00.

Verastem Price Performance

VSTM stock traded down $0.06 during midday trading on Tuesday, hitting $4.56. 2,536,649 shares of the stock were exchanged, compared to its average volume of 1,199,885. The stock's 50-day moving average price is $6.70 and its 200-day moving average price is $6.01. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.50 and a current ratio of 3.50. The stock has a market cap of $250.57 million, a price-to-earnings ratio of -1.43 and a beta of 0.85. Verastem, Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $9.10.

Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.24). Research analysts predict that Verastem, Inc. will post -3.02 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen lowered Verastem from a "hold" rating to a "sell" rating in a report on Friday, April 18th. Mizuho dropped their target price on Verastem from $9.00 to $8.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank Of Canada reduced their price target on Verastem from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Jefferies Financial Group assumed coverage on Verastem in a report on Thursday, April 10th. They set a "buy" rating and a $15.00 price objective on the stock. Finally, Guggenheim raised their target price on Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Verastem has a consensus rating of "Moderate Buy" and an average price target of $13.63.

Institutional Trading of Verastem

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 1,698 shares during the last quarter. ProShare Advisors LLC purchased a new position in Verastem during the fourth quarter worth $56,000. Voya Investment Management LLC acquired a new position in shares of Verastem in the fourth quarter worth $59,000. Sherbrooke Park Advisers LLC acquired a new position in shares of Verastem in the fourth quarter worth $61,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Verastem in the fourth quarter valued at $74,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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