Verastem Inc (VSTM) Short Interest Update
Verastem Inc (NASDAQ:VSTM) was the target of a large growth in short interest in January. As of January 12th, there was short interest totalling 1,730,958 shares, a growth of 72.0% from the December 29th total of 1,006,283 shares. Approximately 4.0% of the company’s stock are short sold. Based on an average trading volume of 897,858 shares, the days-to-cover ratio is currently 1.9 days.
VSTM has been the topic of several recent research reports. Oppenheimer reaffirmed a “buy” rating and set a $6.00 target price on shares of Verastem in a research report on Thursday, October 12th. Cantor Fitzgerald set a $17.00 target price on Verastem and gave the company a “buy” rating in a research report on Tuesday, October 17th. Cann reaffirmed a “buy” rating and set a $6.00 target price on shares of Verastem in a research report on Tuesday, November 7th. Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Verastem in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Verastem currently has a consensus rating of “Buy” and a consensus price target of $9.53.
Shares of Verastem (VSTM) opened at $3.40 on Friday. Verastem has a twelve month low of $1.11 and a twelve month high of $5.71. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $153.89, a price-to-earnings ratio of -2.07 and a beta of 2.19.
In related news, Director Timothy J. Barberich bought 60,538 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were acquired at an average price of $3.95 per share, with a total value of $239,125.10. Following the transaction, the director now owns 130,000 shares of the company’s stock, valued at $513,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.51% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Verastem by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock valued at $2,493,000 after purchasing an additional 107,029 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Verastem during the 3rd quarter valued at $195,000. Point72 Asset Management L.P. purchased a new stake in shares of Verastem during the 3rd quarter valued at $6,580,000. Susquehanna International Group LLP lifted its holdings in shares of Verastem by 137.1% during the 3rd quarter. Susquehanna International Group LLP now owns 75,526 shares of the biopharmaceutical company’s stock valued at $355,000 after purchasing an additional 43,675 shares during the last quarter. Finally, Artal Group S.A. lifted its holdings in shares of Verastem by 50.0% during the 3rd quarter. Artal Group S.A. now owns 750,000 shares of the biopharmaceutical company’s stock valued at $3,525,000 after purchasing an additional 250,000 shares during the last quarter. Hedge funds and other institutional investors own 28.65% of the company’s stock.
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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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