Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson Sells 58,677 Shares

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 58,677 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $8.13, for a total value of $477,044.01. Following the completion of the sale, the chief executive officer now owns 461,982 shares of the company’s stock, valued at approximately $3,755,913.66. This represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, May 5th, Dan Paterson sold 820 shares of Verastem stock. The shares were sold at an average price of $7.30, for a total transaction of $5,986.00.
• On Monday, March 17th, Dan Paterson sold 244 shares of Verastem stock. The shares were sold at an average price of $6.95, for a total transaction of $1,695.80.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $8.03 on Wednesday. Verastem, Inc. has a 52 week low of $2.10 and a 52 week high of $12.45. The company has a 50-day moving average price of $6.44 and a 200 day moving average price of $5.66. The company has a market cap of $441.24 million, a P/E ratio of -2.52 and a beta of 0.85. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.24). Research analysts predict that Verastem, Inc. will post -3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSTM. Tower Research Capital LLC TRC boosted its position in shares of Verastem by 51.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,997 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 1,698 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Verastem in the fourth quarter valued at about $56,000. Voya Investment Management LLC purchased a new stake in Verastem during the fourth quarter worth about $59,000. Sherbrooke Park Advisers LLC acquired a new position in Verastem during the fourth quarter worth about $61,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Verastem during the fourth quarter worth about $74,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on VSTM shares. Jefferies Financial Group started coverage on shares of Verastem in a research report on Thursday, April 10th. They set a “buy” rating and a $15.00 price objective on the stock. Mizuho dropped their price target on Verastem from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada reduced their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. HC Wainwright lifted their target price on Verastem from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Guggenheim boosted their target price on Verastem from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.33.

About Verastem

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.