Verastem, Inc. $VSTM is AIGH Capital Management LLC's 10th Largest Position

Key Points

• AIGH Capital Management LLC has decreased its stake in Verastem, Inc. by 14.3%, making it the investment firm's 10th largest position at approximately $8.3 million.
• Verastem's stock is currently trading at $9.22, with a market capitalization of $567.40 million and a twelve-month high of $11.24.
• The company reported earnings of ($0.39) per share for the last quarter, which exceeded analysts' expectations, despite revenues falling short of estimates at $2.14 million.

AIGH Capital Management LLC decreased its stake in Verastem, Inc. (NASDAQ:VSTM - Free Report) by 14.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,003,179 shares of the biopharmaceutical company's stock after selling 334,575 shares during the period. Verastem comprises about 3.7% of AIGH Capital Management LLC's investment portfolio, making the stock its 10th biggest position. AIGH Capital Management LLC owned 3.65% of Verastem worth $8,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VSTM. Invesco Ltd. lifted its stake in Verastem by 153.3% during the first quarter. Invesco Ltd. now owns 37,184 shares of the biopharmaceutical company's stock worth $224,000 after purchasing an additional 22,504 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Verastem by 61.9% during the first quarter. Deutsche Bank AG now owns 39,079 shares of the biopharmaceutical company's stock worth $236,000 after acquiring an additional 14,941 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Verastem during the first quarter valued at about $300,000. Rhumbline Advisers increased its holdings in shares of Verastem by 32.8% in the first quarter. Rhumbline Advisers now owns 49,959 shares of the biopharmaceutical company's stock worth $301,000 after buying an additional 12,330 shares during the period. Finally, Nuveen LLC purchased a new stake in Verastem during the 1st quarter valued at about $305,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Verastem Trading Down 3.0%

NASDAQ VSTM opened at $9.22 on Monday. The firm has a market capitalization of $567.40 million, a PE ratio of -2.81 and a beta of 0.89. The stock's 50 day moving average is $9.04 and its 200 day moving average is $7.05. Verastem, Inc. has a twelve month low of $2.54 and a twelve month high of $11.24. The company has a quick ratio of 3.44, a current ratio of 3.46 and a debt-to-equity ratio of 2.06.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.64) by $0.25. The business had revenue of $2.14 million for the quarter, compared to the consensus estimate of $6.01 million. Research analysts forecast that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Verastem news, Director Paul A. Bunn sold 8,333 shares of Verastem stock in a transaction dated 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 directly owned 8,333 shares of the company's stock, valued at approximately $75,496.98. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 11,005 shares of company stock worth $96,552. Corporate insiders own 2.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VSTM shares. BTIG Research reiterated a "buy" rating and issued a $20.00 price objective on shares of Verastem in a research report on Tuesday, September 9th. Zacks Research raised Verastem to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Verastem from a "sell" rating to a "hold" rating in a report on Sunday, September 21st. Cantor Fitzgerald started coverage on Verastem in a research note on Thursday. They set an "overweight" rating on the stock. Finally, B. Riley upgraded shares of Verastem to a "strong-buy" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average 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.

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