Verastem, Inc. $VSTM Shares Acquired by Foresite Capital Management VI LLC

Foresite Capital Management VI LLC raised its stake in Verastem, Inc. (NASDAQ:VSTM) by 19.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,135,120 shares of the biopharmaceutical company’s stock after purchasing an additional 520,000 shares during the quarter. Verastem accounts for about 7.3% of Foresite Capital Management VI LLC’s portfolio, making the stock its 5th biggest position. Foresite Capital Management VI LLC’s holdings in Verastem were worth $24,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of VSTM. AQR Capital Management LLC grew its holdings in Verastem by 78.2% during the first quarter. AQR Capital Management LLC now owns 62,603 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 27,477 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Verastem by 236.9% during the first quarter. Goldman Sachs Group Inc. now owns 756,402 shares of the biopharmaceutical company’s stock worth $4,561,000 after acquiring an additional 531,873 shares during the period. Geode Capital Management LLC boosted its position in Verastem by 24.9% in the second quarter. Geode Capital Management LLC now owns 1,199,259 shares of the biopharmaceutical company’s stock worth $4,978,000 after purchasing an additional 238,995 shares during the last quarter. Rhumbline Advisers grew its stake in Verastem by 19.2% in the 2nd quarter. Rhumbline Advisers now owns 59,553 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 9,594 shares during the period. Finally, Invesco Ltd. grew its stake in Verastem by 40.0% in the 2nd quarter. Invesco Ltd. now owns 52,063 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 14,879 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Price Performance

VSTM stock opened at $4.00 on Tuesday. The firm has a 50 day moving average of $4.95 and a 200-day moving average of $6.28. The firm has a market capitalization of $351.48 million, a P/E ratio of -1.48 and a beta of 0.27. Verastem, Inc. has a 12 month low of $3.55 and a 12 month high of $11.24. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89.

Analyst Ratings Changes

VSTM has been the subject of several research reports. HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Verastem in a research report on Friday, April 10th. BTIG Research reduced their target price on shares of Verastem from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Mizuho lowered their price target on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. Alliance Global Partners reaffirmed a “buy” rating on shares of Verastem in a report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Verastem presently has an average rating of “Moderate Buy” and an average price target of $15.60.

About Verastem

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.