Verastem, Inc. (NASDAQ:VSTM) Shares Sold by AIGH Capital Management LLC

AIGH Capital Management LLC trimmed its stake in Verastem, Inc. (NASDAQ:VSTM - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,337,754 shares of the biopharmaceutical company's stock after selling 327,289 shares during the period. Verastem accounts for 5.8% of AIGH Capital Management LLC's portfolio, making the stock its largest position. AIGH Capital Management LLC owned 4.54% of Verastem worth $14,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Verastem by 51.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 1,698 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Verastem by 18.4% during the fourth quarter. Invesco Ltd. now owns 14,680 shares of the biopharmaceutical company's stock valued at $76,000 after acquiring an additional 2,281 shares during the last quarter. Jane Street Group LLC raised its position in shares of Verastem by 31.2% in the fourth quarter. Jane Street Group LLC now owns 19,932 shares of the biopharmaceutical company's stock valued at $103,000 after buying an additional 4,740 shares during the last quarter. Barclays PLC lifted its position in Verastem by 10.3% during the fourth quarter. Barclays PLC now owns 61,445 shares of the biopharmaceutical company's stock worth $318,000 after buying an additional 5,737 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Verastem by 41.3% in the fourth quarter. Wells Fargo & Company MN now owns 20,571 shares of the biopharmaceutical company's stock valued at $106,000 after purchasing an additional 6,012 shares during the period. 88.37% of the stock is owned by institutional investors.

Verastem Stock Performance

Shares of NASDAQ:VSTM traded up $0.17 during mid-day trading on Tuesday, hitting $5.27. 1,808,919 shares of the company traded hands, compared to its average volume of 1,322,375. The firm has a market cap of $289.59 million, a P/E ratio of -1.65 and a beta of 0.71. Verastem, Inc. has a 52-week low of $2.10 and a 52-week high of $9.10. The firm's 50 day simple moving average is $5.84 and its 200 day simple moving average is $6.01.

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

Analysts Set New Price Targets

VSTM has been the subject of several analyst reports. HC Wainwright boosted their target price on Verastem from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada raised Verastem from an "outperform" rating to a "moderate buy" rating and dropped their price objective for the company from $16.00 to $12.00 in a research note on Wednesday, June 25th. Jefferies Financial Group started coverage on Verastem in a research note on Thursday, April 10th. They issued a "buy" rating and a $15.00 price objective for the company. Guggenheim raised their price target on Verastem from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, March 24th. Finally, Wall Street Zen cut Verastem from a "hold" rating to a "sell" rating in a report on Friday, April 18th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Verastem presently has an average rating of "Moderate Buy" and a consensus price target of $13.38.

Insider Activity

In other news, CFO Daniel Calkins sold 11,143 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $8.13, for a total transaction of $90,592.59. Following the completion of the transaction, the chief financial officer directly owned 114,055 shares of the company's stock, valued at approximately $927,267.15. This represents a 8.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Paterson sold 17,808 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $5.13, for a total value of $91,355.04. Following the transaction, the chief executive officer directly owned 443,839 shares of the company's stock, valued at $2,276,894.07. This trade represents a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,796 shares of company stock valued at $693,033. 2.10% of the stock is owned by corporate insiders.

About Verastem

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.