Insider Selling: Verastem (NASDAQ:VSTM) CEO Sells 2,000 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $10.32, for a total transaction of $20,640.00. Following the sale, the chief executive officer owned 430,818 shares of the company's stock, valued at approximately $4,446,041.76. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 1st, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.39, for a total transaction of $20,780.00.
• On Friday, November 28th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.79, for a total transaction of $21,580.00.
• On Monday, November 24th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.00, for a total value of $20,000.00.
• 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 value 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

Shares of NASDAQ:VSTM opened at $10.34 on Tuesday. The business's 50-day simple moving average is $8.95 and its 200 day simple moving average is $7.63. The company has a market cap of $690.51 million, a P/E ratio of -2.57 and a beta of 0.41. The company has a debt-to-equity ratio of 2.06, a quick ratio of 2.55 and a current ratio of 2.58. Verastem, Inc. has a one year low of $3.45 and a one year high of $11.24.

Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly 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 business had revenue of $11.24 million during the quarter, compared to analysts' expectations of $5.76 million. On average, sell-side analysts forecast that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verastem

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in Verastem by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company's stock worth $40,000 after purchasing an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Verastem during the second quarter valued at approximately $49,000. Nebula Research & Development LLC bought a new position in Verastem during the 2nd quarter worth approximately $53,000. The Manufacturers Life Insurance Company grew its position in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company's stock worth $67,000 after acquiring an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 4,496 shares during the last quarter. Institutional investors own 88.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on VSTM. Royal Bank Of Canada set a $13.00 price target on shares of Verastem and gave the company an "outperform" rating in a report on Monday, October 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Verastem in a research note on Wednesday, October 8th. Zacks Research lowered Verastem from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 18th. BTIG Research reiterated a "buy" rating and issued a $20.00 price target on shares of Verastem in a research note on Tuesday, September 9th. Finally, Mizuho set a $15.00 price target on Verastem in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Verastem currently has an average rating of "Moderate Buy" and a consensus price target of $14.29.

View Our Latest Stock Report on VSTM

About Verastem

(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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