Verastem, Inc. (VSTM) Stake Lowered by Fmr LLC
Fmr LLC decreased its position in Verastem, Inc. (NASDAQ:VSTM) by 22.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 700,500 shares of the biopharmaceutical company’s stock after selling 200,700 shares during the period. Fmr LLC owned about 1.89% of Verastem worth $1,450,000 at the end of the most recent quarter.
Separately, Renaissance Technologies LLC increased its stake in Verastem by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,022,200 shares of the biopharmaceutical company’s stock worth $1,145,000 after buying an additional 122,600 shares during the period. Hedge funds and other institutional investors own 22.62% of the company’s stock.
Shares of Verastem, Inc. (NASDAQ:VSTM) opened at 3.65 on Friday. The firm’s 50 day moving average is $2.99 and its 200-day moving average is $2.04. The company’s market capitalization is $135.02 million. Verastem, Inc. has a 52-week low of $1.05 and a 52-week high of $4.67.
Verastem (NASDAQ:VSTM) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). Equities research analysts anticipate that Verastem, Inc. will post ($1.31) earnings per share for the current fiscal year.
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VSTM has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Verastem from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research report on Thursday, July 13th. Cantor Fitzgerald restated a “hold” rating and set a $2.00 price target on shares of Verastem in a research report on Thursday, June 8th. Oppenheimer Holdings, Inc. set a $6.00 price target on shares of Verastem and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Jefferies Group LLC restated a “hold” rating and set a $1.50 price target on shares of Verastem in a research report on Wednesday, June 28th. Finally, Cann restated a “buy” rating and set a $6.00 price target on shares of Verastem in a research report on Monday, June 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $4.54.
In related news, Director Timothy J. Barberich acquired 30,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $2.45 per share, with a total value of $73,500.00. Following the acquisition, the director now directly owns 69,462 shares in the company, valued at $170,181.90. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 12.00% of the stock is owned by corporate insiders.
Verastem Company Profile
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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