Verastem, Inc. $VSTM Shares Bought by Exome Asset Management LLC

Key Points

• Exome Asset Management increased its Verastem stake by 58.5% in the first quarter, acquiring 234,957 additional shares and bringing its holdings to 636,700 shares worth approximately $3.38 million.
• Institutional and hedge-fund interest remains high, with 88.37% of Verastem shares institutionally owned. Polar Capital increased its position by 270.7%, while several other funds established new stakes.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $14.40 price target versus Verastem’s $6.08 opening price; CEO Dan Paterson separately sold 20,871 shares under a Rule 10b5-1 plan.

Exome Asset Management LLC grew its holdings in shares of Verastem, Inc. (NASDAQ:VSTM - Free Report) by 58.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 636,700 shares of the biopharmaceutical company's stock after buying an additional 234,957 shares during the period. Verastem accounts for about 1.7% of Exome Asset Management LLC's holdings, making the stock its 19th largest holding. Exome Asset Management LLC owned about 0.72% of Verastem worth $3,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Polar Capital Holdings Plc raised its position in shares of Verastem by 270.7% during the 4th quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company's stock worth $30,302,000 after acquiring an additional 2,866,350 shares in the last quarter. AIGH Capital Management LLC acquired a new position in Verastem in the first quarter valued at approximately $10,600,000. Farallon Capital Management LLC purchased a new position in Verastem in the fourth quarter valued at approximately $15,440,000. SymBiosis Capital Partners LLC purchased a new position in Verastem in the fourth quarter valued at approximately $15,440,000. Finally, Armistice Capital LLC raised its holdings in Verastem by 68.7% during the fourth quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company's stock worth $27,298,000 after purchasing an additional 1,440,000 shares in the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verastem

In other Verastem news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares in the company, valued at approximately $2,471,391.56. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.94% of the company's stock.

Analyst Ratings Changes

VSTM has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Verastem in a report on Wednesday, June 24th. Alliance Global Partners reiterated a "buy" rating on shares of Verastem in a research note on Friday, May 8th. Royal Bank Of Canada set a $14.00 price target on shares of Verastem and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Wall Street Zen raised Verastem from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings cut Verastem from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $14.40.

Verastem Stock Performance

Shares of VSTM opened at $6.08 on Tuesday. The company's 50 day simple moving average is $4.54 and its 200-day simple moving average is $5.44. The firm has a market cap of $534.25 million, a PE ratio of -2.25 and a beta of 0.29. Verastem, Inc. has a 12-month low of $3.43 and a 12-month high of $11.24. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89.

Verastem Company Profile

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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