Verastem (NASDAQ:VSTM) Director Sells $75,496.98 in Stock

Key Points

• Director Paul Bunn of Verastem, Inc. sold 8,333 shares of stock, totaling $75,496.98, resulting in a 50% decrease in his ownership of the stock.
• Shares of Verastem traded down 3.1% to $9.00, with a market capitalization of $553.86 million and a twelve-month price range of $2.54 to $11.24.
• Analysts have mixed ratings for Verastem, with a consensus of "Moderate Buy" and an average price target of $13.29, reflecting varied outlooks from different research firms.

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) Director Paul Bunn sold 8,333 shares of the firm's stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $9.06, for a total transaction of $75,496.98. Following the completion of the transaction, the director directly owned 8,333 shares in the company, valued at approximately $75,496.98. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Verastem Trading Down 3.1%

VSTM traded down $0.29 during trading on Tuesday, hitting $9.00. The company's stock had a trading volume of 1,629,870 shares, compared to its average volume of 1,864,798. The stock's fifty day moving average price is $8.78 and its 200-day moving average price is $6.95. The firm has a market capitalization of $553.86 million, a P/E ratio of -2.74 and a beta of 0.89. 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, Inc. has a twelve month low of $2.54 and a twelve month high of $11.24.

Verastem (NASDAQ:VSTM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping analysts' consensus estimates of ($0.64) by $0.25. The company had revenue of $2.14 million during the quarter, compared to analysts' expectations of $6.01 million. Analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Verastem from a "sell" rating to a "hold" rating in a report on Sunday, September 21st. BTIG Research restated a "buy" rating and issued a $20.00 price objective on shares of Verastem in a research note on Tuesday, September 9th. Zacks Research raised Verastem to a "hold" rating in a research note on Tuesday, August 12th. B. Riley raised shares of Verastem to a "strong-buy" rating in a research report on Monday, August 25th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Verastem in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.29.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. E Fund Management Co. Ltd. bought a new stake in shares of Verastem during the second quarter valued at approximately $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem during the second quarter worth about $53,000. The Manufacturers Life Insurance Company lifted its position in shares of Verastem by 9.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 1,440 shares during the period. Profund Advisors LLC purchased a new stake in shares of Verastem in the second quarter valued at about $90,000. Finally, Los Angeles Capital Management LLC bought a new position in Verastem during the second quarter worth about $106,000. Institutional investors and hedge funds own 88.37% of the company's stock.

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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