Dan Paterson Sells 8,568 Shares of Verastem, Inc. (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the sale, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, December 19th, Dan Paterson sold 183 shares of Verastem stock. The stock was sold at an average price of $4.37, for a total value of $799.71.
• On Monday, December 16th, Dan Paterson sold 244 shares of Verastem stock. The shares were sold at an average price of $4.54, for a total transaction of $1,107.76.
• On Tuesday, November 5th, Dan Paterson sold 812 shares of Verastem stock. The stock was sold at an average price of $3.84, for a total transaction of $3,118.08.

Verastem Stock Down 0.6 %

Shares of VSTM stock opened at $5.28 on Friday. The business has a fifty day simple moving average of $4.79 and a 200 day simple moving average of $3.54. The company has a debt-to-equity ratio of 2.77, a quick ratio of 3.23 and a current ratio of 3.23. Verastem, Inc. has a twelve month low of $2.10 and a twelve month high of $14.22.

Verastem (NASDAQ:VSTM) last posted its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. On average, research analysts predict that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VSTM. Guggenheim started coverage on shares of Verastem in a report on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective for the company. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Mizuho raised their price objective on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Thursday, December 19th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Institutional Trading of Verastem

Hedge funds have recently added to or reduced their stakes in the stock. Stonepine Capital Management LLC bought a new position in shares of Verastem in the 3rd quarter valued at $3,918,000. Geode Capital Management LLC increased its holdings in Verastem by 67.6% in the 3rd quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock worth $2,663,000 after purchasing an additional 359,060 shares in the last quarter. State Street Corp raised its position in Verastem by 18.2% in the third quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after purchasing an additional 65,265 shares during the last quarter. Nantahala Capital Management LLC acquired a new stake in shares of Verastem during the second quarter valued at about $1,192,000. Finally, Walleye Capital LLC boosted its stake in shares of Verastem by 493.7% during the third quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after purchasing an additional 179,725 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

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.