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

Verastem, Inc. (NASDAQ:VSTM - Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,620,000 shares, an increase of 31.0% from the November 30th total of 2,000,000 shares. Based on an average daily trading volume, of 983,100 shares, the days-to-cover ratio is presently 2.7 days. Approximately 6.6% of the company's stock are short sold.

Verastem Stock Performance

Verastem stock traded down $0.23 during mid-day trading on Friday, reaching $3.71. 1,111,935 shares of the company traded hands, compared to its average volume of 638,676. The firm's fifty day moving average is $4.21 and its two-hundred day moving average is $3.31. The company has a market capitalization of $165.12 million, a price-to-earnings ratio of -1.16 and a beta of 0.22. Verastem has a fifty-two week low of $2.10 and a fifty-two week high of $14.22. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23.

Verastem (NASDAQ:VSTM - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, beating analysts' consensus estimates of ($0.71) by $0.11. On average, equities research analysts expect that Verastem will post -3.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Verastem in a research report on Friday, October 18th. HC Wainwright reiterated a "buy" rating and issued a $7.00 target price on shares of Verastem in a report on Thursday, December 19th. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 price target on shares of Verastem in a report on Friday, October 18th. Mizuho lifted their price objective on shares of Verastem from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Finally, Guggenheim assumed coverage on shares of Verastem in a research report on Monday, September 30th. They set a "buy" rating and a $13.00 target price for the company. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Verastem has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Institutional Trading of Verastem

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC acquired a new position in Verastem during the third quarter valued at $41,000. SG Americas Securities LLC acquired a new stake in Verastem during the third quarter worth about $43,000. JPMorgan Chase & Co. raised 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 acquiring an additional 6,016 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in 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 during the period. Finally, Acadian Asset Management LLC acquired a new position in Verastem in the second quarter valued at approximately $82,000. 88.37% of the stock is currently 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.