SG Americas Securities LLC Purchases New Position in Verastem, Inc. (NASDAQ:VSTM)

SG Americas Securities LLC acquired a new position in shares of Verastem, Inc. (NASDAQ:VSTM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,444 shares of the biopharmaceutical company’s stock, valued at approximately $43,000. SG Americas Securities LLC owned 0.06% of Verastem as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $13,699,000 after buying an additional 10,678 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Verastem in the second quarter worth about $203,000. Rhumbline Advisers grew its holdings in Verastem by 4,172.0% during the 2nd quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 28,119 shares in the last quarter. Acadian Asset Management LLC bought a new position in Verastem during the 2nd quarter worth about $82,000. Finally, Nantahala Capital Management LLC purchased a new position in Verastem during the 2nd quarter valued at about $1,192,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VSTM shares. Guggenheim initiated coverage on shares of Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Verastem in a research report on Friday, October 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Verastem in a report on Friday, October 18th. StockNews.com upgraded Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. Finally, Truist Financial cut their target price on Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Verastem has an average rating of “Moderate Buy” and an average target price of $14.57.

Verastem Stock Up 6.2 %

Shares of VSTM stock opened at $3.60 on Wednesday. The stock’s fifty day moving average price is $2.82 and its 200 day moving average price is $4.61. Verastem, Inc. has a 1-year low of $2.10 and a 1-year high of $14.22. The company has a market cap of $144.86 million, a price-to-earnings ratio of -1.08 and a beta of 0.17. 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 (NASDAQ:VSTM) last issued its quarterly earnings results 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 business had revenue of $10.00 million during the quarter. On average, research analysts expect that Verastem, Inc. will post -3.36 earnings per share for the current fiscal year.

About Verastem

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.