Ishara Investments LP Makes New $2.08 Million Investment in Verastem, Inc. $VSTM

Ishara Investments LP acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 270,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,084,000. Verastem makes up approximately 2.4% of Ishara Investments LP’s portfolio, making the stock its 15th biggest holding.

Several other hedge funds have also recently bought and sold shares of VSTM. Russell Investments Group Ltd. raised its stake in Verastem by 182.9% during the third quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Verastem during the second quarter worth $49,000. Nebula Research & Development LLC acquired a new position in Verastem during the second quarter worth $53,000. The Manufacturers Life Insurance Company raised its stake in Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Verastem by 110.9% during the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after acquiring an additional 4,496 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Verastem Price Performance

Verastem stock opened at $4.17 on Thursday. The business’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $6.19. The stock has a market cap of $366.42 million, a price-to-earnings ratio of -1.54 and a beta of 0.27. Verastem, Inc. has a 12-month low of $3.55 and a 12-month high of $11.24. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89.

Analysts Set New Price Targets

VSTM has been the subject of several recent analyst reports. Mizuho dropped their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Jefferies Financial Group restated a “buy” rating and set a $15.00 target price (down from $19.00) on shares of Verastem in a report on Monday, March 30th. Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Alliance Global Partners restated a “buy” rating on shares of Verastem in a report on Friday, May 8th. Finally, BTIG Research decreased 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. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.60.

About Verastem

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.