Verastem (NASDAQ:VSTM) CEO Dan Paterson Sells 3,299 Shares

by · The Cerbat Gem

Verastem, Inc. (NASDAQ:VSTM – Get Free Report) CEO Dan Paterson sold 3,299 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $9.74, for a total transaction of $32,132.26. Following the completion of the sale, the chief executive officer directly owned 438,818 shares of the company’s stock, valued at $4,274,087.32. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Dan Paterson also recently made the following trade(s):

  • On Tuesday, September 16th, Dan Paterson sold 390 shares of Verastem stock. The stock was sold at an average price of $9.99, for a total transaction of $3,896.10.

Verastem Price Performance

Shares of VSTM traded down $0.18 during trading hours on Friday, reaching $7.76. 144,529 shares of the stock traded hands, compared to its average volume of 1,950,621. Verastem, Inc. has a 52-week low of $3.45 and a 52-week high of $11.24. The company has a current ratio of 2.58, a quick ratio of 3.44 and a debt-to-equity ratio of 2.06. The company has a market cap of $517.88 million, a P/E ratio of -1.93 and a beta of 0.89. The company’s 50-day moving average price is $9.05 and its two-hundred day moving average price is $7.37.

Verastem (NASDAQ:VSTM – Get Free Report) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The company had revenue of $11.24 million during the quarter, compared to analysts’ expectations of $5.76 million. On average, analysts anticipate that Verastem, Inc. will post -3.02 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of Verastem in a research report on Tuesday, September 9th. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Mizuho set a $15.00 price target on shares of Verastem in a research note on Wednesday, October 29th. B. Riley raised shares of Verastem to a “strong-buy” rating in a research note on Monday, August 25th. Finally, HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Verastem in a research report on Tuesday, October 21st. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.29.

View Our Latest Research Report on VSTM

Institutional Investors Weigh In On Verastem

A number of institutional investors and hedge funds have recently modified their holdings of the business. E Fund Management Co. Ltd. bought a new position in Verastem in the 2nd quarter valued at $49,000. Nebula Research & Development LLC bought a new position in shares of Verastem in the second quarter worth about $53,000. The Manufacturers Life Insurance Company grew its holdings in shares of Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,440 shares during the last quarter. Profund Advisors LLC purchased a new position in Verastem in the 2nd quarter worth about $90,000. Finally, Los Angeles Capital Management LLC bought a new stake in Verastem during the 2nd quarter valued at about $106,000. 88.37% of the stock is owned by institutional investors.

About Verastem

(Get Free Report)

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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