Verastem (NASDAQ:VSTM) CFO Sells 2,566 Shares of Company Stock

Key Points

• Verastem CFO Daniel Calkins sold 2,566 shares at an average price of $8.00, generating $20,528. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 123,781 shares.
• Verastem shares recently traded at $7.70, with the stock up from its 52-week low of $3.43 but below its high of $10.82. The company reported quarterly revenue of $40.08 million and an adjusted loss of $0.35 per share, beating analyst estimates.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $13.83; institutional investors own 88.37% of the company’s shares.

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CFO Daniel Calkins sold 2,566 shares of the company's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $8.00, for a total value of $20,528.00. Following the transaction, the chief financial officer directly owned 123,781 shares in the company, valued at approximately $990,248. The trade was a 2.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Calkins also recently made the following trade(s):

• On Monday, September 21st, Daniel Calkins sold 55 shares of Verastem stock. The shares were sold at an average price of $7.70, for a total transaction of $423.50.

Verastem Stock Performance

Shares of NASDAQ VSTM traded down $0.20 during trading on Friday, reaching $7.70. 4,070,379 shares of the company traded hands, compared to its average volume of 2,242,226. The firm has a 50 day simple moving average of $7.18 and a 200-day simple moving average of $5.75. The company has a quick ratio of 2.22, a current ratio of 2.25 and a debt-to-equity ratio of 1.48. The stock has a market capitalization of $697.31 million, a PE ratio of -2.89 and a beta of 0.38. Verastem, Inc. has a 52-week low of $3.43 and a 52-week high of $10.82.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.08. Verastem had a negative net margin of 231.59% and a negative return on equity of 467.49%. The firm had revenue of $40.08 million during the quarter, compared to analyst estimates of $22.88 million. Equities research analysts anticipate that Verastem, Inc. will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Verastem

Hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP bought a new stake in shares of Verastem during the 4th quarter valued at $117,000. Hsbc Holdings PLC bought a new position in Verastem in the 1st quarter worth $210,000. ADAR1 Capital Management LLC purchased a new position in Verastem during the first quarter valued at $377,000. Quantinno Capital Management LP purchased a new position in Verastem during the first quarter valued at $394,000. Finally, Knott David M Jr bought a new stake in Verastem during the first quarter valued at about $551,000. Institutional investors own 88.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VSTM. Cantor Fitzgerald reiterated an "overweight" rating on shares of Verastem in a research note on Monday. Royal Bank Of Canada set a $14.00 price objective on Verastem and gave the stock an "outperform" rating in a report on Tuesday, July 7th. BTIG Research reissued a "buy" rating and issued a $18.00 target price on shares of Verastem in a report on Friday, September 11th. Mizuho set a $13.00 target price on Verastem and gave the stock an "outperform" rating in a research report on Monday, August 10th. Finally, Guggenheim set a $12.00 price target on shares of Verastem and gave the company a "buy" rating in a research report on Friday, August 7th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.83.

Verastem Company Profile

Verastem Oncology is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancers driven by abnormalities in the RAS/MAPK signaling pathway. The company's research is aimed at addressing cancers with limited treatment options, including ovarian cancer and other solid tumors.

Verastem's principal products include avutometinib, a RAF/MEK pathway inhibitor, and defactinib, a focal adhesion kinase (FAK) inhibitor. The company has studied these therapies both individually and in combination, with the goal of improving cancer-cell response and overcoming treatment resistance.

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