AIGH Capital Management LLC Invests $10.60 Million in Verastem, Inc. $VSTM

AIGH Capital Management LLC bought a new stake in shares of Verastem, Inc. (NASDAQ:VSTM) in the first quarter, Holdings Channel.com reports. The institutional investor bought 2,000,000 shares of the biopharmaceutical company’s stock, valued at approximately $10,600,000. Verastem comprises about 1.4% of AIGH Capital Management LLC’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors also recently bought and sold shares of VSTM. Russell Investments Group Ltd. grew its holdings in Verastem by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 2,960 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Verastem during the 2nd quarter valued at $49,000. Nebula Research & Development LLC purchased a new stake in shares of Verastem during the 2nd quarter valued at $53,000. The Manufacturers Life Insurance Company boosted its position in shares of Verastem by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Verastem by 110.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Trading Up 4.7%

NASDAQ:VSTM opened at $5.08 on Thursday. The company has a market capitalization of $446.38 million, a P/E ratio of -1.88 and a beta of 0.29. 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 12 month low of $3.43 and a 12 month high of $11.24. The firm has a fifty day simple moving average of $4.36 and a 200-day simple moving average of $5.61.

Analysts Set New Price Targets

VSTM has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Verastem in a research report on Wednesday, June 24th. BTIG Research reissued a “buy” rating and issued a $18.00 price target on shares of Verastem in a report on Thursday, July 2nd. Alliance Global Partners restated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Jefferies Financial Group dropped their price target on Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.40.

Insider Transactions at Verastem

In other Verastem news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the sale, the chief executive officer owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is owned by company insiders.

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.