400,000 Shares in Verastem, Inc. (NASDAQ:VSTM) Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC bought a new position in Verastem, Inc. (NASDAQ:VSTM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 400,000 shares of the biopharmaceutical company's stock, valued at approximately $1,192,000. Nantahala Capital Management LLC owned 0.99% of Verastem as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cannon Global Investment Management LLC purchased a new stake in Verastem in the 1st quarter worth approximately $131,000. Acadian Asset Management LLC purchased a new stake in Verastem in the 2nd quarter worth approximately $82,000. Rhumbline Advisers grew its stake in Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company's stock worth $86,000 after acquiring an additional 28,119 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Verastem in the 2nd quarter valued at $203,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Verastem by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company's stock valued at $13,699,000 after purchasing an additional 10,678 shares during the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on VSTM. B. Riley decreased their price target on shares of Verastem from $21.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded shares of Verastem from a "sell" rating to a "hold" rating in a report on Monday, August 12th. HC Wainwright decreased their price target on shares of Verastem from $17.50 to $7.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Truist Financial decreased their price target on shares of Verastem from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Finally, Guggenheim started coverage on shares of Verastem in a report on Monday. They set a "buy" rating and a $13.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $14.57.

Verastem Stock Down 5.7 %

NASDAQ:VSTM traded down $0.17 on Tuesday, reaching $2.82. The stock had a trading volume of 563,162 shares, compared to its average volume of 508,346. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 1.88. The company has a 50-day moving average of $2.59 and a 200 day moving average of $5.87. The stock has a market cap of $71.42 million, a P/E ratio of -0.64 and a beta of 0.16. Verastem, Inc. has a 12-month low of $2.10 and a 12-month high of $14.22.

Verastem (NASDAQ:VSTM - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.75. The firm had revenue of $10.00 million during the quarter. On average, research analysts predict that Verastem, Inc. will post -3.36 earnings per share for the current year.

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.