Verastem (NASDAQ:VSTM) CEO Dan Paterson Sells 2,000 Shares

Verastem CEO Dan Paterson sold 2,000 shares at $10 each, totaling $20,000, reducing his ownership by 0.46%. The transaction was disclosed to the SEC. Verastem's stock performance shows a recent increase, with a trading volume of 1.82 million shares. Analysts predict a negative earnings per share for the year. Institutional investors hold 88.37% of the stock, with recent changes in holdings by several investment firms. Analysts have mixed ratings on Verastem's stock.

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 2,000 shares of the business's stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $10.00, for a total transaction of $20,000.00. Following the transaction, the chief executive officer owned 434,818 shares in the company, valued at $4,348,180. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

On Friday, November 21st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.00, for a total transaction of $20,000.00.
On Monday, November 3rd, Dan Paterson sold 3,299 shares of Verastem stock. The stock was sold at an average price of $9.74, for a total value of $32,132.26.
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 value of $3,896.10.

Verastem Stock Performance

NASDAQ:VSTM traded up $0.41 on Tuesday, hitting $10.25. The company's stock had a trading volume of 1,820,292 shares, compared to its average volume of 1,987,401. Verastem, Inc. has a one year low of $3.45 and a one year high of $11.24. The firm has a market capitalization of $684.50 million, a P/E ratio of -2.54 and a beta of 0.89. The stock has a fifty day moving average of $8.82 and a two-hundred day moving average of $7.52. The company has a current ratio of 2.58, a quick ratio of 2.55 and a debt-to-equity ratio of 2.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 1,440 shares during the period. Aries Wealth Management boosted its position in shares of Verastem by 10.5% during the 3rd quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company's stock worth $232,000 after acquiring an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company's stock valued at $40,000 after purchasing an additional 2,960 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Verastem by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 117,784 shares of the biopharmaceutical company's stock valued at $710,000 after acquiring an additional 4,183 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Verastem by 110.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company's stock valued at $75,000 after purchasing an additional 4,496 shares in the last quarter. Institutional investors own 88.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VSTM shares. Mizuho set a $15.00 price objective on shares of Verastem in a report on Wednesday, October 29th. Zacks Research cut shares of Verastem from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 18th. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the stock an "outperform" rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Verastem in a research report on Wednesday, October 8th. Finally, B. Riley upgraded Verastem to a "strong-buy" rating in a research note on Monday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $14.29.

Check Out Our Latest Research Report on Verastem

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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