Verastem (NASDAQ:VSTM) CEO Dan Paterson Sells 2,000 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $10.00, for a total transaction of $20,000.00. Following the completion of the sale, the chief executive officer directly owned 422,818 shares in the company, valued at $4,228,180. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value 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 value of $21,580.00.
• On Wednesday, November 26th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.32, for a total value of $20,640.00.
• 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 transaction 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 transaction 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 transaction of $3,896.10.

Verastem Price Performance

Shares of VSTM traded down $0.21 on Friday, hitting $10.39. The company’s stock had a trading volume of 152,604 shares, compared to its average volume of 1,973,879. The company has a market capitalization of $694.11 million, a PE ratio of -2.58 and a beta of 0.41. Verastem, Inc. has a fifty-two week low of $3.45 and a fifty-two week high of $11.24. The company has a 50 day moving average price of $9.03 and a 200 day moving average price of $7.69. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on VSTM shares. Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Verastem in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Verastem in a research note on Tuesday, October 21st. Zacks Research cut shares of Verastem from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Mizuho set a $15.00 price target on Verastem in a research report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Institutional Trading of Verastem

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Verastem by 1.6% in the third quarter. Vanguard Group Inc. now owns 3,479,011 shares of the biopharmaceutical company’s stock valued at $30,720,000 after acquiring an additional 55,394 shares during the period. BVF Inc. IL boosted its holdings in shares of Verastem by 62.1% in the second quarter. BVF Inc. IL now owns 3,404,425 shares of the biopharmaceutical company’s stock valued at $14,128,000 after buying an additional 1,303,957 shares during the period. Nantahala Capital Management LLC raised its holdings in shares of Verastem by 28.5% during the second quarter. Nantahala Capital Management LLC now owns 2,954,735 shares of the biopharmaceutical company’s stock worth $12,262,000 after acquiring an additional 656,194 shares during the period. Vivo Capital LLC lifted its position in Verastem by 71.9% in the 3rd quarter. Vivo Capital LLC now owns 2,644,985 shares of the biopharmaceutical company’s stock valued at $23,355,000 after acquiring an additional 1,106,524 shares in the last quarter. Finally, Foresite Capital Management VI LLC boosted its stake in Verastem by 104.9% in the 3rd quarter. Foresite Capital Management VI LLC now owns 2,615,120 shares of the biopharmaceutical company’s stock worth $23,092,000 after purchasing an additional 1,338,600 shares during the period. Institutional investors 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.