AIGH Capital Management LLC Invests $13.78 Million in Verastem, Inc. (NASDAQ:VSTM)

AIGH Capital Management LLC bought a new position in shares of Verastem, Inc. (NASDAQ:VSTM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,665,043 shares of the biopharmaceutical company's stock, valued at approximately $13,778,000. Verastem makes up approximately 4.3% of AIGH Capital Management LLC's investment portfolio, making the stock its 8th biggest position. AIGH Capital Management LLC owned 5.99% of Verastem as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of VSTM. FMR LLC purchased a new stake in shares of Verastem during the third quarter worth about $41,000. JPMorgan Chase & Co. boosted its stake in shares of Verastem by 55.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company's stock valued at $50,000 after buying an additional 6,016 shares during the last quarter. Aries Wealth Management boosted its stake in shares of Verastem by 23.3% during the 4th quarter. Aries Wealth Management now owns 26,415 shares of the biopharmaceutical company's stock valued at $137,000 after buying an additional 5,000 shares during the last quarter. Stifel Financial Corp grew its position in shares of Verastem by 62.3% during the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company's stock worth $91,000 after buying an additional 11,642 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Verastem by 152.8% in the fourth quarter. SG Americas Securities LLC now owns 36,515 shares of the biopharmaceutical company's stock worth $189,000 after buying an additional 22,071 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company's stock.

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Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 8,568 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the transaction, the chief executive officer now owns 347,581 shares of the company's stock, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 9,960 shares of company stock valued at $53,498. 2.20% of the stock is owned by corporate insiders.

Verastem Stock Performance

Shares of NASDAQ VSTM traded down $0.31 during midday trading on Thursday, reaching $5.53. 371,385 shares of the company traded hands, compared to its average volume of 1,056,755. The company has a market cap of $284.72 million, a price-to-earnings ratio of -1.73 and a beta of 0.60. The stock has a 50-day moving average price of $6.17 and a 200 day moving average price of $4.83. Verastem, Inc. has a 52 week low of $2.10 and a 52 week high of $13.52. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23.

Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.57). Sell-side analysts anticipate that Verastem, Inc. will post -3.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VSTM. HC Wainwright raised their price objective on shares of Verastem from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Monday, March 24th. Mizuho lifted their price target on Verastem from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. B. Riley upped their price objective on Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, January 31st. StockNews.com upgraded Verastem from a "sell" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Guggenheim upped their price target on Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.88.

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.