Short Interest in Verastem, Inc. (NASDAQ:VSTM) Increases By 31.0%

Verastem, Inc. (NASDAQ:VSTM) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 2,620,000 shares, an increase of 31.0% from the November 30th total of 2,000,000 shares. Based on an average trading volume of 983,100 shares, the short-interest ratio is presently 2.7 days. Currently, 6.6% of the shares of the company are sold short.

Verastem Price Performance

Verastem stock traded down $0.23 during mid-day trading on Friday, hitting $3.71. 1,111,935 shares of the company were exchanged, compared to its average volume of 638,676. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem has a 12-month low of $2.10 and a 12-month high of $14.22. The business’s 50 day simple moving average is $4.21 and its two-hundred day simple moving average is $3.31. The company has a market capitalization of $165.12 million, a P/E ratio of -1.16 and a beta of 0.22.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.11. Analysts forecast that Verastem will post -3.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Verastem in a research report on Thursday, December 19th. Mizuho upped their price target on shares of Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Verastem in a research note on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research note on Friday, October 18th. Finally, StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Verastem has an average rating of “Moderate Buy” and an average target price of $12.00.

Hedge Funds Weigh In On Verastem

Large investors have recently added to or reduced their stakes in the business. FMR LLC acquired a new position in Verastem during the third quarter worth approximately $41,000. SG Americas Securities LLC acquired a new position in shares of Verastem during the third quarter worth about $43,000. JPMorgan Chase & Co. raised its holdings in shares of Verastem by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 6,016 shares during the period. Apollon Wealth Management LLC lifted its position in Verastem by 104.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after acquiring an additional 10,457 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Verastem in the 2nd quarter worth approximately $82,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Verastem Company Profile

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.