Foresite Capital Management VI LLC Acquires 520,000 Shares of Verastem, Inc. $VSTM

Foresite Capital Management VI LLC lifted its position in shares of Verastem, Inc. (NASDAQ:VSTM) by 19.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,135,120 shares of the biopharmaceutical company’s stock after purchasing an additional 520,000 shares during the quarter. Verastem comprises approximately 7.3% of Foresite Capital Management VI LLC’s holdings, making the stock its 5th largest holding. Foresite Capital Management VI LLC owned approximately 4.69% of Verastem worth $24,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its position in Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after purchasing an additional 4,496 shares during the period. E Fund Management Co. Ltd. acquired a new position in shares of Verastem during the second quarter worth approximately $49,000. DRW Securities LLC bought a new stake in Verastem during the fourth quarter worth approximately $93,000. Finally, Nebula Research & Development LLC acquired a new stake in Verastem in the 2nd quarter valued at about $53,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VSTM. Mizuho cut their target price on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a research report on Friday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 target price on shares of Verastem in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.60.

Verastem Trading Down 2.4%

VSTM opened at $4.00 on Tuesday. The company’s 50 day moving average is $4.95 and its 200-day moving average is $6.28. The company has a market cap of $351.48 million, a P/E ratio of -1.48 and a beta of 0.27. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89. Verastem, Inc. has a 1-year low of $3.55 and a 1-year high of $11.24.

Verastem Profile

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.