723,806 Shares in Verastem, Inc. (NASDAQ:VSTM) Purchased by Woodline Partners LP

Woodline Partners LP bought a new stake in Verastem, Inc. (NASDAQ:VSTM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 723,806 shares of the biopharmaceutical company's stock, valued at approximately $3,742,000. Woodline Partners LP owned about 1.63% of Verastem at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings 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 valued at $26,000 after purchasing an additional 1,698 shares during the last quarter. Invesco Ltd. raised its stake in Verastem by 18.4% in the fourth quarter. Invesco Ltd. now owns 14,680 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 2,281 shares during the last quarter. Jane Street Group LLC boosted its holdings in Verastem by 31.2% in the fourth quarter. Jane Street Group LLC now owns 19,932 shares of the biopharmaceutical company's stock worth $103,000 after acquiring an additional 4,740 shares in the last quarter. Aries Wealth Management grew its stake in shares of Verastem by 23.3% during the fourth quarter. Aries Wealth Management now owns 26,415 shares of the biopharmaceutical company's stock worth $137,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Barclays PLC boosted its stake in Verastem by 10.3% in the 4th quarter. Barclays PLC now owns 61,445 shares of the biopharmaceutical company's stock worth $318,000 after purchasing an additional 5,737 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors.

Verastem Stock Performance

NASDAQ:VSTM traded down $0.91 during trading hours on Wednesday, reaching $7.61. The company had a trading volume of 2,245,796 shares, compared to its average volume of 1,094,359. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem, Inc. has a 1-year low of $2.10 and a 1-year high of $9.10. The business's 50 day moving average price is $6.55 and its 200-day moving average price is $5.81. The firm has a market cap of $418.16 million, a PE ratio of -2.39 and a beta of 0.85.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its 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 forecast that Verastem, Inc. will post -3.02 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on VSTM. B. Riley raised their price target on shares of Verastem from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Friday, January 31st. HC Wainwright boosted their price target on Verastem from $10.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Royal Bank of Canada cut their price objective on Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Mizuho decreased their target price on Verastem from $9.00 to $8.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Jefferies Financial Group started coverage on Verastem in a research report on Thursday, April 10th. They issued a "buy" rating and a $15.00 target price on the stock. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Verastem has an average rating of "Moderate Buy" and a consensus target price of $14.33.

Insiders Place Their Bets

In related news, CEO Dan Paterson sold 58,677 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $8.13, for a total value of $477,044.01. Following the completion of the transaction, the chief executive officer now owns 461,982 shares of the company's stock, valued at approximately $3,755,913.66. This represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Calkins sold 11,143 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $8.13, for a total value of $90,592.59. Following the transaction, the chief financial officer now owns 114,055 shares in the company, valued at $927,267.15. This represents a 8.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,168 shares of company stock worth $577,292. Company insiders own 2.10% of the company's stock.

Verastem 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.