Verastem, Inc. (NASDAQ:VSTM) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP trimmed its position in Verastem, Inc. (NASDAQ:VSTM) by 19.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,458 shares of the biopharmaceutical company’s stock after selling 19,087 shares during the quarter. Two Sigma Investments LP owned about 0.18% of Verastem worth $421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of VSTM. Balyasny Asset Management L.P. acquired a new position in shares of Verastem in the 4th quarter worth approximately $20,400,000. AIGH Capital Management LLC acquired a new position in shares of Verastem in the 4th quarter worth approximately $13,778,000. Rosalind Advisors Inc. acquired a new position in shares of Verastem in the 4th quarter worth approximately $4,653,000. Marshall Wace LLP acquired a new position in shares of Verastem in the 4th quarter worth approximately $4,103,000. Finally, BVF Inc. IL lifted its holdings in Verastem by 24.6% during the 4th quarter. BVF Inc. IL now owns 2,100,468 shares of the biopharmaceutical company’s stock worth $10,859,000 after buying an additional 415,249 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Dan Paterson sold 58,677 shares of Verastem stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $8.13, for a total value of $477,044.01. Following the completion of the transaction, the chief executive officer now directly owns 461,982 shares of the company’s stock, valued at $3,755,913.66. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Calkins sold 11,143 shares of Verastem stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $8.13, for a total value of $90,592.59. Following the completion of the transaction, the chief financial officer now directly owns 114,055 shares of the company’s stock, valued at $927,267.15. This represents a 8.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,168 shares of company stock valued at $577,292. 2.10% of the stock is owned by company insiders.

Verastem Stock Performance

NASDAQ:VSTM opened at $6.11 on Tuesday. Verastem, Inc. has a twelve month low of $2.10 and a twelve month high of $9.10. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The company has a 50-day moving average of $6.60 and a 200-day moving average of $5.98. The firm has a market cap of $335.74 million, a price-to-earnings ratio of -1.92 and a beta of 0.85.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.24). Analysts forecast that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VSTM. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Friday, April 18th. HC Wainwright increased their price objective on shares of Verastem from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Royal Bank of Canada dropped their price objective on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Guggenheim increased their price objective on shares of Verastem from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Finally, Mizuho dropped their price objective on shares of Verastem from $9.00 to $8.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

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.