Insider Selling: Verastem, Inc. (NASDAQ:VSTM) CEO Sells 8,568 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 8,568 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total value of $44,896.32. Following the transaction, the chief executive officer now owns 347,581 shares of the company’s stock, valued at $1,821,324.44. This represents a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, December 19th, Dan Paterson sold 183 shares of Verastem stock. The shares were sold at an average price of $4.37, for a total transaction of $799.71.
• On Monday, December 16th, Dan Paterson sold 244 shares of Verastem stock. The shares were sold at an average price of $4.54, for a total value of $1,107.76.
• On Tuesday, November 5th, Dan Paterson sold 812 shares of Verastem stock. The stock was sold at an average price of $3.84, for a total value of $3,118.08.

Verastem Stock Up 5.4 %

NASDAQ VSTM opened at $5.31 on Thursday. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $14.22. The company’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $3.53. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.11. As a group, equities research analysts anticipate that Verastem, Inc. will post -3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BTIG Research boosted their price target on Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. StockNews.com downgraded shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Mizuho upped their price target on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Verastem in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Institutional Investors Weigh In On Verastem

Several hedge funds have recently modified their holdings of the stock. FMR LLC purchased a new position in Verastem in the 3rd quarter worth about $41,000. SG Americas Securities LLC acquired a new position in shares of Verastem in the third quarter worth about $43,000. JPMorgan Chase & Co. boosted its holdings in shares of Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 6,016 shares during the period. Apollon Wealth Management LLC increased its position in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Verastem during the second quarter valued at approximately $82,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.