Verastem, Inc. (NASDAQ:VSTM) Stock Position Decreased by Walleye Capital LLC

Walleye Capital LLC lowered its position in Verastem, Inc. (NASDAQ:VSTM - Free Report) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,281 shares of the biopharmaceutical company's stock after selling 76,845 shares during the quarter. Walleye Capital LLC owned 0.31% of Verastem worth $720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of Verastem in the 3rd quarter valued at about $41,000. JPMorgan Chase & Co. lifted its position in Verastem by 55.4% during the third 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 in the last quarter. Invesco Ltd. grew its stake in Verastem by 18.4% during the fourth quarter. Invesco Ltd. now owns 14,680 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 2,281 shares during the period. Stifel Financial Corp increased its position in shares of Verastem by 62.3% in the third quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company's stock worth $91,000 after acquiring an additional 11,642 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Verastem by 41.3% in the 4th quarter. Wells Fargo & Company MN now owns 20,571 shares of the biopharmaceutical company's stock valued at $106,000 after acquiring an additional 6,012 shares during the period. Hedge funds and other institutional investors own 88.37% of the company's stock.

Wall Street Analysts Forecast Growth

VSTM has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Verastem in a report on Thursday, April 10th. They issued a "buy" rating and a $15.00 price target for the company. Mizuho lowered their target price on Verastem from $9.00 to $8.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. StockNews.com lowered Verastem from a "hold" rating to a "sell" rating in a research report on Friday, April 18th. Guggenheim lifted their price objective on shares of Verastem from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, March 24th. Finally, Royal Bank of Canada decreased their target price on shares of Verastem from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verastem currently has an average rating of "Moderate Buy" and an average price target of $13.89.

Verastem Price Performance

Shares of VSTM remained flat at $7.50 during midday trading on Friday. 1,802,783 shares of the stock traded hands, compared to its average volume of 1,001,364. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem, Inc. has a one year low of $2.10 and a one year high of $13.52. The firm has a 50 day moving average price of $6.06 and a 200 day moving average price of $5.18. The stock has a market cap of $386.18 million, a PE ratio of -2.35 and a beta of 0.57.

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