Insider Selling: Verastem (NASDAQ:VSTM) Director Sells 6,250 Shares of Stock

Verastem Director Paul Bunn sold 6,250 shares at $10 each, totaling $62,500, reducing his ownership by 75%. The transaction was disclosed to the SEC. Verastem's stock performance and analyst ratings are mixed, with institutional investors actively trading shares. The company focuses on cancer drug development.

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) Director Paul Bunn sold 6,250 shares of Verastem stock in a transaction on Friday, November 21st. The stock was sold at an average price of $10.00, for a total transaction of $62,500.00. Following the transaction, the director directly owned 2,083 shares in the company, valued at approximately $20,830. This represents a 75.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Verastem Price Performance

VSTM traded up $0.41 on Tuesday, hitting $10.25. 1,820,292 shares of the stock were exchanged, compared to its average volume of 1,987,401. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. Verastem, Inc. has a 12 month low of $3.45 and a 12 month high of $11.24. The firm has a market capitalization of $684.50 million, a price-to-earnings ratio of -2.54 and a beta of 0.89. The business has a 50-day moving average of $8.82 and a two-hundred day moving average of $7.52.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.84). The business had revenue of $11.24 million during the quarter, compared to analysts' expectations of $5.76 million. Sell-side analysts forecast that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on VSTM shares. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of Verastem in a research note on Tuesday, October 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Verastem in a report on Wednesday, October 8th. B. Riley raised Verastem to a "strong-buy" rating in a research report on Monday, August 25th. Cantor Fitzgerald raised Verastem to a "strong-buy" rating in a report on Thursday, October 30th. Finally, BTIG Research reiterated a "buy" rating and issued a $20.00 target price on shares of Verastem in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.29.

Get Our Latest Report on VSTM

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently bought and sold shares of the business. Armistice Capital LLC purchased a new position in shares of Verastem in the second quarter valued at $8,864,000. Octagon Capital Advisors LP acquired a new position in shares of Verastem in the 1st quarter valued at about $10,372,000. Foresite Capital Management VI LLC increased its holdings in Verastem by 104.9% during the 3rd quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company's stock worth $23,092,000 after purchasing an additional 1,338,600 shares during the last quarter. BVF Inc. IL boosted its position in Verastem by 62.1% during the 2nd quarter. BVF Inc. IL now owns 3,404,425 shares of the biopharmaceutical company's stock valued at $14,128,000 after purchasing an additional 1,303,957 shares during the period. Finally, Vivo Capital LLC increased its position in shares of Verastem by 71.9% during the 3rd quarter. Vivo Capital LLC now owns 2,644,985 shares of the biopharmaceutical company's stock valued at $23,355,000 after purchasing an additional 1,106,524 shares during the period. Institutional investors and hedge funds own 88.37% of the company's stock.

Verastem Company Profile

(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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