Verastem, Inc. $VSTM Shares Bought by Exome Asset Management LLC

Exome Asset Management LLC raised its stake in Verastem, Inc. (NASDAQ:VSTM) by 58.5% during the 1st quarter, HoldingsChannel reports. The firm owned 636,700 shares of the biopharmaceutical company’s stock after acquiring an additional 234,957 shares during the period. Verastem accounts for 1.7% of Exome Asset Management LLC’s portfolio, making the stock its 19th biggest position. Exome Asset Management LLC’s holdings in Verastem were worth $3,375,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Polar Capital Holdings Plc raised its stake in shares of Verastem by 270.7% during the fourth quarter. Polar Capital Holdings Plc now owns 3,925,126 shares of the biopharmaceutical company’s stock worth $30,302,000 after purchasing an additional 2,866,350 shares during the last quarter. AIGH Capital Management LLC purchased a new position in Verastem in the 1st quarter valued at $10,600,000. Farallon Capital Management LLC purchased a new position in Verastem in the 4th quarter valued at $15,440,000. SymBiosis Capital Partners LLC acquired a new position in Verastem in the 4th quarter valued at $15,440,000. Finally, Armistice Capital LLC increased its stake in Verastem by 68.7% in the 4th quarter. Armistice Capital LLC now owns 3,536,000 shares of the biopharmaceutical company’s stock valued at $27,298,000 after buying an additional 1,440,000 shares during the period. Institutional investors and hedge funds own 88.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on VSTM. Wall Street Zen upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research report on Saturday. BTIG Research reiterated a “buy” rating and set a $18.00 price target on shares of Verastem in a research note on Thursday, July 2nd. Alliance Global Partners reissued a “buy” rating on shares of Verastem in a report on Friday, May 8th. 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 report on Thursday, May 14th. Finally, Royal Bank Of Canada set a $14.00 price objective on shares of Verastem and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Verastem Stock Performance

Shares of VSTM opened at $6.08 on Tuesday. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89. Verastem, Inc. has a 52-week low of $3.43 and a 52-week high of $11.24. The company has a 50-day simple moving average of $4.54 and a 200-day simple moving average of $5.44. The company has a market capitalization of $534.25 million, a PE ratio of -2.25 and a beta of 0.29.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $4.18, for a total transaction of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares in the company, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.94% of the company’s stock.

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.