NEXTBio Capital Management LP Acquires Shares of 1,307,330 Verastem, Inc. $VSTM

NEXTBio Capital Management LP acquired a new stake in Verastem, Inc. (NASDAQ:VSTM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,307,330 shares of the biopharmaceutical company’s stock, valued at approximately $10,093,000. Verastem accounts for about 5.9% of NEXTBio Capital Management LP’s portfolio, making the stock its 6th largest holding. NEXTBio Capital Management LP owned approximately 1.96% of Verastem as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VSTM. Russell Investments Group Ltd. grew its stake in Verastem by 182.9% in the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after acquiring an additional 2,960 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Verastem in the second quarter valued at approximately $49,000. Nebula Research & Development LLC acquired a new stake in Verastem in the second quarter valued at approximately $53,000. The Manufacturers Life Insurance Company grew its stake in Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after acquiring an additional 1,440 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 4,496 shares during the period. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Trading Up 4.1%

NASDAQ:VSTM opened at $4.10 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.00 and a current ratio of 3.04. The firm has a market cap of $360.27 million, a price-to-earnings ratio of -1.52 and a beta of 0.27. Verastem, Inc. has a 52 week low of $3.55 and a 52 week high of $11.24. The firm has a 50-day moving average price of $4.98 and a two-hundred day moving average price of $6.35.

Analyst Ratings Changes

VSTM has been the subject of a number of research reports. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group reissued a “buy” rating and issued a $15.00 price objective (down from $19.00) on shares of Verastem in a research note on Monday, March 30th. BTIG Research dropped their target price on Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Finally, Alliance Global Partners restated a “buy” rating on shares of Verastem in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.60.

Verastem Company Profile

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.