Verastem Inc (VSTM) Short Interest Update
Verastem Inc (NASDAQ:VSTM) saw a significant growth in short interest during the month of September. As of September 28th, there was short interest totalling 14,621,952 shares, a growth of 81.3% from the September 14th total of 8,066,813 shares. Approximately 20.3% of the company’s stock are short sold. Based on an average daily trading volume, of 5,706,177 shares, the short-interest ratio is presently 2.6 days.
A number of analysts have weighed in on VSTM shares. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Verastem in a research report on Monday, August 13th. BTIG Research set a $17.00 price target on Verastem and gave the stock a “buy” rating in a research report on Tuesday, September 25th. BidaskClub cut Verastem from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 7th. ValuEngine raised Verastem from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 18th. Finally, Seaport Global Securities set a $16.00 price target on Verastem and gave the stock a “buy” rating in a research report on Friday, July 27th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Verastem currently has a consensus rating of “Buy” and a consensus price target of $14.40.
NASDAQ VSTM opened at $5.65 on Friday. Verastem has a twelve month low of $2.77 and a twelve month high of $10.35. The company has a quick ratio of 7.70, a current ratio of 7.70 and a debt-to-equity ratio of 0.19. The stock has a market cap of $533.54 million, a P/E ratio of -3.21 and a beta of 2.76.
In related news, Director Michael Kauffman purchased 4,000 shares of Verastem stock in a transaction on Friday, September 28th. The stock was bought at an average price of $7.49 per share, with a total value of $29,960.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at $29,960. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Forrester purchased 10,500 shares of Verastem stock in a transaction on Thursday, September 27th. The stock was bought at an average cost of $7.00 per share, with a total value of $73,500.00. Following the transaction, the chief executive officer now directly owns 209,234 shares of the company’s stock, valued at $1,464,638. The disclosure for this purchase can be found here. Insiders acquired 19,500 shares of company stock valued at $139,420 in the last ninety days. Insiders own 7.06% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in shares of Verastem by 2,520.2% during the 2nd quarter. FMR LLC now owns 4,058,097 shares of the biopharmaceutical company’s stock worth $27,920,000 after purchasing an additional 3,903,218 shares during the last quarter. BlackRock Inc. lifted its position in shares of Verastem by 7.2% during the 1st quarter. BlackRock Inc. now owns 1,040,059 shares of the biopharmaceutical company’s stock worth $3,100,000 after purchasing an additional 70,138 shares during the last quarter. EAM Global Investors LLC acquired a new position in shares of Verastem during the 2nd quarter worth about $1,026,000. Barrett Asset Management LLC acquired a new position in shares of Verastem during the 2nd quarter worth about $344,000. Finally, EAM Investors LLC acquired a new position in shares of Verastem during the 2nd quarter worth about $3,288,000. 43.46% of the stock is owned by institutional investors and hedge funds.
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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