Verastem, Inc. (NASDAQ:VSTM - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.47 and traded as high as $6.10. Verastem shares last traded at $6.00, with a volume of 2,531,911 shares changing hands.
Analyst Upgrades and Downgrades
VSTM has been the subject of several analyst reports. BTIG Research reaffirmed a "buy" rating and set a $18.00 target price on shares of Verastem in a research report on Thursday, July 2nd. Alliance Global Partners reiterated a "buy" rating on shares of Verastem in a research report on Friday, May 8th. Mizuho decreased their price target on Verastem from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, May 14th. Jefferies Financial Group lowered their price objective on Verastem from $15.00 to $8.00 and set a "buy" rating for the company in a research report on Tuesday, June 23rd. Finally, Wall Street Zen lowered Verastem from a "hold" rating to a "sell" rating in a research note on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.40.
View Our Latest Analysis on VSTM
Verastem Stock Performance
The company's 50-day moving average price is $4.42 and its two-hundred day moving average price is $5.47. The company has a market capitalization of $527.22 million, a price-to-earnings ratio of -2.22 and a beta of 0.29. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.
Insider Buying and Selling
In other Verastem news, CEO Dan Paterson sold 20,871 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the sale, the chief executive officer directly owned 591,242 shares in the company, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.94% of the company's stock.
Institutional Investors Weigh In On Verastem
Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its stake in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 2,960 shares during the period. E Fund Management Co. Ltd. acquired a new position in Verastem in the second quarter valued at approximately $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem during the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company boosted its holdings 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 worth $67,000 after buying an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company's stock worth $75,000 after buying an additional 4,496 shares during the period. Institutional investors own 88.37% of the company's stock.
About Verastem
(
Get Free Report)
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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