Nantahala Capital Management LLC Purchases Shares of 400,000 Verastem, Inc. (NASDAQ:VSTM)

Nantahala Capital Management LLC acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 400,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,192,000. Nantahala Capital Management LLC owned approximately 0.99% of Verastem as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VSTM. Cannon Global Investment Management LLC bought a new stake in shares of Verastem in the 1st quarter worth $131,000. Acadian Asset Management LLC purchased a new position in shares of Verastem in the 2nd quarter worth approximately $82,000. Rhumbline Advisers boosted its stake in shares of Verastem by 4,172.0% in the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after buying an additional 28,119 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Verastem during the second quarter valued at approximately $203,000. Finally, Vanguard Group Inc. increased its position in shares of Verastem by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares during the last quarter. Institutional investors own 88.37% of the company’s stock.

Verastem Stock Performance

NASDAQ VSTM opened at $2.99 on Tuesday. The company’s 50 day simple moving average is $2.59 and its two-hundred day simple moving average is $5.87. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.28 and a quick ratio of 3.28. Verastem, Inc. has a 1 year low of $2.10 and a 1 year high of $14.22. The stock has a market capitalization of $75.72 million, a PE ratio of -0.68 and a beta of 0.16.

Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.75. The company had revenue of $10.00 million during the quarter. Analysts predict that Verastem, Inc. will post -3.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VSTM. HC Wainwright cut their price target on shares of Verastem from $17.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, August 12th. B. Riley dropped their price objective on Verastem from $21.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised Verastem from a “sell” rating to a “hold” rating in a research report on Monday, August 12th. Royal Bank of Canada decreased their price objective on Verastem from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Truist Financial dropped their price objective on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Company Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.