Verastem, Inc. (NASDAQ:VSTM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Verastem, Inc. (NASDAQ:VSTM - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 948,790 shares of the biopharmaceutical company's stock after buying an additional 58,191 shares during the quarter. Geode Capital Management LLC owned about 2.13% of Verastem worth $4,906,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted 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. Stifel Financial Corp raised its position in shares of Verastem by 62.3% in the 3rd quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company's stock valued at $91,000 after purchasing an additional 11,642 shares in 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. Barclays PLC grew its position in shares of Verastem by 546.7% during the third quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company's stock worth $167,000 after buying an additional 47,094 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Verastem by 152.8% during 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 in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Verastem Stock Performance

Shares of NASDAQ VSTM opened at $7.50 on Friday. Verastem, Inc. has a one year low of $2.10 and a one year high of $13.52. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. The business has a fifty day simple moving average of $6.06 and a 200 day simple moving average of $5.19. The firm has a market capitalization of $386.18 million, a price-to-earnings ratio of -2.35 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on VSTM shares. BTIG Research increased their target price on Verastem from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, December 31st. HC Wainwright raised their price objective on Verastem from $7.00 to $10.00 and gave the stock a "buy" rating in a research note on Monday, March 24th. Jefferies Financial Group assumed coverage on shares of Verastem in a research note on Thursday, April 10th. They set a "buy" rating and a $15.00 target price for the company. Guggenheim raised their price target on shares of Verastem from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, March 24th. Finally, B. Riley lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the company a "buy" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.89.

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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