Walleye Trading LLC Takes Position in Verastem, Inc. (NASDAQ:VSTM)

Walleye Trading LLC purchased a new stake in Verastem, Inc. (NASDAQ:VSTMGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 60,814 shares of the biopharmaceutical company’s stock, valued at approximately $71,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Synovus Financial Corp increased its stake in shares of Verastem by 10.2% in the 1st quarter. Synovus Financial Corp now owns 108,000 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Verastem by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 460,493 shares of the biopharmaceutical company’s stock valued at $650,000 after purchasing an additional 11,090 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Verastem by 45.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 47,100 shares of the biopharmaceutical company’s stock valued at $54,000 after purchasing an additional 14,800 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Verastem by 23.8% in the 1st quarter. JPMorgan Chase & Co. now owns 103,057 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 19,837 shares during the last quarter. Finally, Eaton Vance Management bought a new position in shares of Verastem in the 1st quarter valued at $28,000. Institutional investors own 58.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VSTM. Alliance Global Partners restated a “buy” rating and set a $6.00 price objective on shares of Verastem in a research report on Wednesday, September 7th. StockNews.com began coverage on Verastem in a research report on Monday. They set a “hold” rating on the stock. HC Wainwright reduced their price objective on Verastem from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, November 7th. Finally, BTIG Research reduced their price objective on Verastem from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, October 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.00.

Verastem Stock Up 1.4 %

Shares of VSTM opened at $0.41 on Monday. The company has a market capitalization of $85.70 million, a PE ratio of -1.05 and a beta of 0.62. Verastem, Inc. has a 12 month low of $0.29 and a 12 month high of $3.02. The stock’s 50-day moving average price is $0.61 and its two-hundred day moving average price is $0.99. The company has a current ratio of 4.97, a quick ratio of 4.97 and a debt-to-equity ratio of 0.39.

Verastem Company Profile

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Verastem, Inc, a development-stage biopharmaceutical company, focusing on developing and commercializing drugs for the treatment of cancer. Its product in development includes VS-6766, a dual rapidly accelerated fibrosarcoma (RAF)/mitogen-activated protein kinase (MEK) clamp that blocks MEK kinase activity and the ability of RAF to phosphorylate MEK.

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Institutional Ownership by Quarter for Verastem (NASDAQ:VSTM)

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