Foresite Capital Management VI LLC Has $23.09 Million Position in Verastem, Inc. $VSTM

Foresite Capital Management VI LLC raised its position in Verastem, Inc. (NASDAQ:VSTM) by 104.9% during the third quarter, Holdings Channel reports. The firm owned 2,615,120 shares of the biopharmaceutical company’s stock after purchasing an additional 1,338,600 shares during the period. Verastem comprises 8.9% of Foresite Capital Management VI LLC’s portfolio, making the stock its 4th largest holding. Foresite Capital Management VI LLC’s holdings in Verastem were worth $23,092,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position 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 valued at $67,000 after acquiring an additional 1,440 shares during the last quarter. Aries Wealth Management lifted its stake in Verastem by 10.5% in the third quarter. Aries Wealth Management now owns 26,249 shares of the biopharmaceutical company’s stock valued at $232,000 after buying an additional 2,500 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 2,960 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 4,496 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Verastem by 28.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,945 shares of the biopharmaceutical company’s stock worth $124,000 after buying an additional 6,691 shares during the period. 88.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Daniel Calkins sold 5,039 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $7.16, for a total value of $36,079.24. Following the sale, the chief financial officer owned 104,719 shares in the company, valued at $749,788.04. This represents a 4.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dan Paterson sold 10,321 shares of the company’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $7.16, for a total transaction of $73,898.36. Following the completion of the sale, the chief executive officer owned 400,104 shares in the company, valued at $2,864,744.64. This represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,678 shares of company stock worth $128,685 over the last ninety days. Insiders own 2.10% of the company’s stock.

Verastem Price Performance

Shares of NASDAQ:VSTM opened at $5.60 on Monday. Verastem, Inc. has a twelve month low of $4.01 and a twelve month high of $11.24. The stock’s 50 day moving average is $6.34 and its 200-day moving average is $8.08. The company has a quick ratio of 3.07, a current ratio of 3.09 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $491.85 million, a price-to-earnings ratio of -1.75 and a beta of 0.40.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings results on Wednesday, March 4th. The biopharmaceutical company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). The business had revenue of $17.54 million for the quarter, compared to analyst estimates of $16.85 million. Sell-side analysts forecast that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on VSTM shares. Jefferies Financial Group reiterated a “buy” rating and set a $19.00 target price on shares of Verastem in a research report on Thursday, March 5th. Mizuho set a $18.00 price target on shares of Verastem in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Verastem in a research note on Wednesday, January 21st. Zacks Research lowered shares of Verastem from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, BTIG Research initiated coverage on shares of Verastem in a research report on Thursday. They set a “buy” rating and a $19.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $16.83.

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.