Dan Paterson Sells 8,568 Shares of Verastem, Inc. (NASDAQ:VSTM) Stock

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $5.24, for a total transaction of $44,896.32. Following the sale, the chief executive officer now owns 347,581 shares of the company's stock, valued at approximately $1,821,324.44. This represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, December 19th, Dan Paterson sold 183 shares of Verastem stock. The shares were sold at an average price of $4.37, for a total transaction of $799.71.
• On Monday, December 16th, Dan Paterson sold 244 shares of Verastem stock. The shares were sold at an average price of $4.54, for a total value of $1,107.76.
• On Tuesday, November 5th, Dan Paterson sold 812 shares of Verastem stock. The stock was sold at an average price of $3.84, for a total transaction of $3,118.08.

Verastem Stock Down 5.6 %

VSTM traded down $0.30 during trading hours on Tuesday, hitting $5.04. 868,318 shares of the company's stock were exchanged, compared to its average volume of 2,517,652. The stock has a market cap of $224.32 million, a price-to-earnings ratio of -1.58 and a beta of 0.24. Verastem, Inc. has a 1-year low of $2.10 and a 1-year high of $14.22. The stock's 50-day moving average is $4.70 and its two-hundred day moving average is $3.50. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.11. Sell-side analysts predict that Verastem, Inc. will post -3.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VSTM. Guggenheim initiated coverage on Verastem in a report on Monday, September 30th. They set a "buy" rating and a $13.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Verastem in a research report on Friday, October 18th. StockNews.com cut Verastem from a "hold" rating to a "sell" rating in a research note on Tuesday, November 19th. BTIG Research lifted their price target on shares of Verastem from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, December 31st. Finally, HC Wainwright reissued a "buy" rating and set a $7.00 price objective on shares of Verastem in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.38.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSTM. JPMorgan Chase & Co. increased 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 worth $50,000 after purchasing an additional 6,016 shares during the last quarter. Apollon Wealth Management LLC increased its position in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company's stock worth $61,000 after buying an additional 10,457 shares during the last quarter. Stifel Financial Corp raised its stake in Verastem by 62.3% in the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company's stock valued at $91,000 after buying an additional 11,642 shares during the period. FMR LLC acquired a new stake in shares of Verastem in the third quarter valued at approximately $41,000. Finally, SG Americas Securities LLC bought a new position in shares of Verastem during the 3rd quarter worth approximately $43,000. 88.37% of the stock is owned by institutional investors and hedge funds.

About Verastem

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.

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