Geode Capital Management LLC Has $4.91 Million Stock Holdings in Verastem, Inc. (NASDAQ:VSTM)

Geode Capital Management LLC increased its position in shares of Verastem, Inc. (NASDAQ:VSTM - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 948,790 shares of the biopharmaceutical company's stock after purchasing an additional 58,191 shares during the period. Geode Capital Management LLC owned 2.13% of Verastem worth $4,906,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. AIGH Capital Management LLC purchased a new stake in shares of Verastem in the fourth quarter valued at approximately $13,778,000. Rosalind Advisors Inc. purchased a new position in shares of Verastem during the fourth quarter valued at $4,653,000. State Street Corp increased its stake in shares of Verastem by 18.2% during the third quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company's stock valued at $1,269,000 after buying an additional 65,265 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Verastem by 9.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 113,601 shares of the biopharmaceutical company's stock worth $587,000 after acquiring an additional 10,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Verastem by 12.0% during the 4th quarter. Bank of New York Mellon Corp now owns 88,424 shares of the biopharmaceutical company's stock worth $457,000 after acquiring an additional 9,503 shares in the last quarter. Institutional investors own 88.37% of the company's stock.

Verastem Trading Down 2.3 %

Verastem stock traded down $0.17 during midday trading on Thursday, hitting $7.32. 271,849 shares of the stock were exchanged, compared to its average volume of 1,098,377. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The company has a fifty day simple moving average of $6.15 and a two-hundred day simple moving average of $5.26. Verastem, Inc. has a 52 week low of $2.10 and a 52 week high of $13.52. The stock has a market capitalization of $376.96 million, a PE ratio of -2.30 and a beta of 0.57.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57). Equities research analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on VSTM. StockNews.com lowered shares of Verastem from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. B. Riley increased their price objective on Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Mizuho decreased their price target on Verastem from $9.00 to $8.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada decreased their price target on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Finally, Jefferies Financial Group initiated coverage on Verastem in a report on Thursday, April 10th. They set a "buy" rating and a $15.00 target price for the company. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.89.

Verastem 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.