Bank of New York Mellon Corp Sells 51,726 Shares of Verastem, Inc. (NASDAQ:VSTM)

Bank of New York Mellon Corp cut its holdings in Verastem, Inc. (NASDAQ:VSTM) by 8.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 582,087 shares of the biopharmaceutical company’s stock after selling 51,726 shares during the period. Bank of New York Mellon Corp owned 0.32% of Verastem worth $2,369,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in shares of Verastem by 61.7% in the second quarter. Rockefeller Capital Management L.P. now owns 9,700 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 3,700 shares during the period. Acadian Asset Management LLC bought a new position in Verastem during the first quarter valued at about $62,000. Marshall Wace North America L.P. bought a new position in Verastem during the first quarter valued at about $62,000. O Shaughnessy Asset Management LLC bought a new position in Verastem during the second quarter valued at about $77,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Verastem during the second quarter valued at about $80,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

A number of research firms have weighed in on VSTM. Alliance Global Partners reaffirmed a “buy” rating and set a $6.00 price objective on shares of Verastem in a report on Tuesday, August 3rd. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Verastem in a report on Monday, September 20th. Finally, Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a report on Friday, October 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Verastem has a consensus rating of “Buy” and an average target price of $5.69.

Shares of VSTM opened at $2.61 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 9.01 and a quick ratio of 9.01. The business’s 50 day simple moving average is $2.78 and its 200-day simple moving average is $3.24. Verastem, Inc. has a one year low of $1.14 and a one year high of $4.93. The company has a market capitalization of $471.78 million, a P/E ratio of -11.35 and a beta of 0.88.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Sunday, August 1st. The biopharmaceutical company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Verastem had a negative return on equity of 35.48% and a negative net margin of 47.93%. The company had revenue of $0.50 million during the quarter. On average, sell-side analysts anticipate that Verastem, Inc. will post -0.38 EPS for the current fiscal year.

Verastem Company Profile

Verastem, Inc is a biopharmaceutical company, which engages in the development and commercialization of drugs for the treatment of cancer. The company was founded by Richard H. Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric S. Lander, Robert F. Weinberg, and Christoph H. Westphal on August 4, 2010 and is headquartered in Needham, MA.

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Institutional Ownership by Quarter for Verastem (NASDAQ:VSTM)

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