Verastem, Inc. (VSTM) Sees Large Growth in Short Interest
Verastem, Inc. (NASDAQ:VSTM) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,609,275 shares, an increase of 47.5% from the July 14th total of 1,091,161 shares. Based on an average daily trading volume, of 510,096 shares, the short-interest ratio is presently 3.2 days. Approximately 5.1% of the shares of the company are sold short.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Verastem from a “hold” rating to a “buy” rating and set a $3.75 target price on the stock in a research note on Thursday, July 13th. Cann reiterated a “buy” rating and issued a $6.00 target price on shares of Verastem in a research note on Tuesday, July 25th. HC Wainwright set a $7.00 target price on Verastem and gave the company a “buy” rating in a research note on Thursday. Oppenheimer Holdings, Inc. set a $6.00 target price on Verastem and gave the company a “buy” rating in a research note on Wednesday, May 10th. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $2.00 target price on shares of Verastem in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Verastem presently has a consensus rating of “Hold” and an average target price of $4.61.
Verastem (NASDAQ VSTM) opened at 3.01 on Friday. Verastem has a 52 week low of $1.05 and a 52 week high of $4.67. The firm has a 50 day moving average price of $3.31 and a 200 day moving average price of $2.15. The stock’s market capitalization is $111.35 million.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.02. Equities research analysts predict that Verastem will post ($1.38) earnings per share for the current year.
In other news, Director Timothy J. Barberich purchased 30,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $2.45 per share, with a total value of $73,500.00. Following the completion of the transaction, the director now directly owns 69,462 shares in the company, valued at approximately $170,181.90. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of VSTM. FMR LLC boosted its stake in Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 219,445 shares in the last quarter. Renaissance Technologies LLC boosted 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 valued at $1,145,000 after buying an additional 122,600 shares in the last quarter. TFS Capital LLC acquired a new stake in Verastem during the first quarter valued at approximately $113,000. Howland Capital Management LLC boosted its stake in Verastem by 16.5% in the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock valued at $641,000 after buying an additional 41,616 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC acquired a new stake in Verastem during the second quarter valued at approximately $109,000. Hedge funds and other institutional investors own 22.31% of the company’s stock.
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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