Verastem (NASDAQ:VSTM) Trading Up 8.3% – What’s Next?

Verastem, Inc. (NASDAQ:VSTM)’s stock price traded up 8.3% on Tuesday . The stock traded as high as $5.72 and last traded at $5.8160. Approximately 864,905 shares changed hands during trading, a decline of 62% from the average session volume of 2,253,258 shares. The stock had previously closed at $5.37.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Jefferies Financial Group dropped their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. BTIG Research reiterated a “buy” rating and issued a $18.00 price target on shares of Verastem in a research note on Thursday, July 2nd. Mizuho decreased their price target on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Verastem in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.40.

Verastem Stock Performance

The firm has a market capitalization of $511.84 million, a PE ratio of -2.18 and a beta of 0.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. The business’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $5.56.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the transaction, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.94% of the company’s stock.

Institutional Trading of Verastem

Several hedge funds have recently bought and sold shares of VSTM. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Verastem by 157.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 569,195 shares of the biopharmaceutical company’s stock valued at $2,174,000 after acquiring an additional 347,872 shares during the last quarter. Seven Fleet Capital Management LP raised its position in Verastem by 715.1% during the first quarter. Seven Fleet Capital Management LP now owns 123,400 shares of the biopharmaceutical company’s stock valued at $654,000 after purchasing an additional 108,260 shares during the period. Bank of America Corp DE raised its position in Verastem by 31.6% during the first quarter. Bank of America Corp DE now owns 416,985 shares of the biopharmaceutical company’s stock valued at $2,210,000 after purchasing an additional 100,123 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of Verastem in the 1st quarter valued at approximately $377,000. Finally, Royal Bank of Canada boosted its holdings in shares of Verastem by 15.3% in the 1st quarter. Royal Bank of Canada now owns 110,729 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 14,683 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Company 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.