SG Americas Securities LLC Purchases 378,958 Shares of Verastem, Inc. $VSTM

Key Points

• SG Americas Securities LLC sharply increased its position, buying 378,958 shares in Q4 (a 3,333.8% increase) and now owns 390,325 shares — about 0.58% of Verastem valued at ~$3.01 million.
• Analysts remain mostly bullish with an average "Buy" consensus and a $16.60 price target, well above the current share price near $5.63, implying substantial upside.
• Company insiders have been selling: CEO Dan Paterson sold 10,321 shares and CFO Daniel Calkins sold 5,039 shares (16,330 shares sold total in the last three months), leaving insiders with 2.10% ownership.

SG Americas Securities LLC increased its position in shares of Verastem, Inc. (NASDAQ:VSTM - Free Report) by 3,333.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,325 shares of the biopharmaceutical company's stock after purchasing an additional 378,958 shares during the quarter. SG Americas Securities LLC owned approximately 0.58% of Verastem worth $3,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VSTM. Russell Investments Group Ltd. grew its stake in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company's stock worth $40,000 after buying an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Verastem in the second quarter valued at approximately $49,000. Nebula Research & Development LLC acquired a new position in shares of Verastem in the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company's stock worth $75,000 after acquiring an additional 4,496 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Price Performance

Shares of VSTM opened at $5.63 on Friday. The business's fifty day moving average price is $5.88 and its two-hundred day moving average price is $7.65. The firm has a market capitalization of $494.51 million, a price-to-earnings ratio of -1.76 and a beta of 0.43. Verastem, Inc. has a 52 week low of $4.01 and a 52 week high of $11.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.07 and a current ratio of 3.09.

Verastem (NASDAQ:VSTM - Get Free Report) last released its earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.01). The firm had revenue of $17.54 million during the quarter, compared to the consensus estimate of $16.85 million. On average, analysts predict that Verastem, Inc. will post -3.02 earnings per share for the current year.

Insider Activity

In other news, CEO Dan Paterson sold 10,321 shares of Verastem stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $7.16, for a total transaction of $73,898.36. Following the completion of the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. The trade was a 2.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Calkins sold 5,039 shares of the business's stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $36,079.24. Following the sale, the chief financial officer directly owned 104,719 shares of the company's stock, valued at approximately $749,788.04. This trade represents a 4.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,330 shares of company stock valued at $116,467 over the last three months. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VSTM shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Verastem in a report on Wednesday, January 21st. HC Wainwright assumed coverage on Verastem in a report on Wednesday, February 4th. They set a "buy" rating and a $18.00 target price on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $15.00 price target (down from $19.00) on shares of Verastem in a report on Monday, March 30th. Guggenheim reiterated a "buy" rating on shares of Verastem in a research report on Tuesday, December 30th. Finally, Mizuho set a $18.00 price objective on shares of Verastem in a research report on Thursday, February 19th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Verastem has an average rating of "Buy" and a consensus price target of $16.60.

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.

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