Verastem, Inc. (NASDAQ:VSTM) Sees Large Increase in Short Interest

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 4,930,000 shares, a growth of 59.5% from the December 31st total of 3,090,000 shares. Currently, 12.5% of the shares of the stock are sold short. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 3.3 days.

Insider Buying and Selling

In related news, CEO Dan Paterson sold 8,568 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 9,509 shares of company stock worth $49,099. 2.20% of the stock is owned by corporate insiders.

Institutional Trading of Verastem

Institutional investors and hedge funds have recently bought and sold shares of the business. Aries Wealth Management boosted its stake in shares of Verastem by 23.3% in the fourth quarter. Aries Wealth Management now owns 26,415 shares of the biopharmaceutical company's stock valued at $137,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Verastem by 55.4% in the third quarter. JPMorgan Chase & Co. now owns 16,878 shares of the biopharmaceutical company's stock worth $50,000 after acquiring an additional 6,016 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Verastem by 12.0% during the fourth quarter. Bank of New York Mellon Corp now owns 88,424 shares of the biopharmaceutical company's stock worth $457,000 after acquiring an additional 9,503 shares during the period. Rhumbline Advisers increased its position in shares of Verastem by 38.0% during the fourth quarter. Rhumbline Advisers now owns 37,629 shares of the biopharmaceutical company's stock worth $195,000 after acquiring an additional 10,352 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Verastem by 104.6% in the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 10,457 shares in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. B. Riley increased their price target on Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a report on Friday. BTIG Research raised their target price on Verastem from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, December 31st. Royal Bank of Canada boosted their price target on shares of Verastem from $13.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Cantor Fitzgerald restated an "overweight" rating on shares of Verastem in a research report on Friday, October 18th. Finally, Guggenheim reiterated a "buy" rating on shares of Verastem in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.63.

Verastem Trading Up 3.0 %

Shares of VSTM stock traded up $0.17 during trading hours on Tuesday, hitting $5.88. The company had a trading volume of 611,349 shares, compared to its average volume of 1,609,109. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market capitalization of $261.72 million, a PE ratio of -1.84 and a beta of 0.28. The company's fifty day moving average is $5.19 and its 200 day moving average is $3.77. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22.

Verastem (NASDAQ:VSTM - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, topping analysts' consensus estimates of ($0.71) by $0.11. Research analysts expect that Verastem will post -3.02 earnings per share for the current fiscal year.

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.