Knott David M Jr Invests $551,000 in Verastem, Inc. $VSTM

Knott David M Jr acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 104,000 shares of the biopharmaceutical company’s stock, valued at approximately $551,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Verastem by 31.8% in the 1st quarter. Bank of New York Mellon Corp now owns 161,707 shares of the biopharmaceutical company’s stock valued at $857,000 after acquiring an additional 39,018 shares in the last quarter. Torray Investment Partners LLC grew its stake in shares of Verastem by 38.2% during the 1st quarter. Torray Investment Partners LLC now owns 298,958 shares of the biopharmaceutical company’s stock worth $1,584,000 after acquiring an additional 82,571 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Verastem during the 1st quarter worth approximately $210,000. AIGH Capital Management LLC bought a new position in shares of Verastem during the 1st quarter worth approximately $10,600,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Verastem in the fourth quarter valued at approximately $117,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Insider Transactions at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of Verastem stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the completion of the transaction, the chief executive officer owned 591,242 shares in the company, valued at approximately $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings lowered shares of Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Verastem in a research report on Wednesday, June 24th. Jefferies Financial Group lowered their price target on shares of Verastem from $15.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Royal Bank Of Canada set a $14.00 price target on shares of Verastem and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Finally, Mizuho reduced their price objective on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Verastem has a consensus rating of “Moderate Buy” and an average target price of $14.40.

Verastem Stock Performance

Shares of VSTM opened at $6.18 on Friday. The company has a market cap of $543.04 million, a PE ratio of -2.29 and a beta of 0.29. The firm has a 50-day moving average of $4.47 and a 200-day moving average of $5.45. Verastem, Inc. has a one year low of $3.43 and a one year high of $11.24. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00.

Verastem 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.