Insider Selling: Verastem (NASDAQ:VSTM) CEO Sells 10,321 Shares of Stock

Verastem, Inc. (NASDAQ:VSTM) CEO Dan Paterson sold 10,321 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $73,898.36. Following the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. This represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, December 16th, Dan Paterson sold 393 shares of Verastem stock. The shares were sold at an average price of $9.14, for a total transaction of $3,592.02.
• On Wednesday, December 10th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.07, for a total value of $20,140.00.
• On Monday, December 8th, Dan Paterson sold 2,000 shares of Verastem stock. The shares were sold at an average price of $10.50, for a total value of $21,000.00.
• On Friday, December 5th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.61, for a total value of $21,220.00.
• On Wednesday, December 3rd, 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 Monday, December 1st, Dan Paterson sold 2,000 shares of Verastem stock. The stock was 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 shares were sold at an average price of $10.79, for a total transaction of $21,580.00.
• On Wednesday, November 26th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.32, for a total transaction of $20,640.00.
• On Monday, November 24th, Dan Paterson sold 2,000 shares of Verastem stock. The stock was sold at an average price of $10.00, for a total transaction 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 value of $20,000.00.

Verastem Price Performance

VSTM stock traded down $0.41 during midday trading on Wednesday, reaching $6.79. 1,969,071 shares of the stock were exchanged, compared to its average volume of 2,464,841. Verastem, Inc. has a 52 week low of $4.01 and a 52 week high of $11.24. The company has a fifty day moving average price of $8.71 and a 200 day moving average price of $8.10. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.58 and a quick ratio of 2.55. The stock has a market capitalization of $453.41 million, a PE ratio of -1.68 and a beta of 0.44.

Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.84). The firm had revenue of $11.24 million during the quarter, compared to the consensus estimate of $5.76 million. As a group, analysts expect that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on VSTM shares. Royal Bank Of Canada set a $13.00 price objective on Verastem and gave the company an “outperform” rating in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, October 8th. Cantor Fitzgerald raised Verastem to a “strong-buy” rating in a research note on Thursday, October 30th. Mizuho set a $15.00 target price on shares of Verastem in a research report on Wednesday, October 29th. Finally, Guggenheim restated a “buy” rating on shares of Verastem in a research report on Tuesday, December 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Verastem has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

Institutional Investors Weigh In On Verastem

A number of large investors have recently bought and sold shares of VSTM. The Manufacturers Life Insurance Company raised its holdings in shares of Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares during the period. Aries Wealth Management increased its position in Verastem by 10.5% in the 3rd quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock valued at $232,000 after buying an additional 2,500 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,960 shares during the period. BNP Paribas Financial Markets boosted its holdings in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 4,496 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Verastem by 28.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,945 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 6,691 shares during the period. 88.37% of the stock is currently owned by institutional investors and hedge funds.

About Verastem

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.