Verastem, Inc. (NASDAQ:VSTM) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its position in Verastem, Inc. (NASDAQ:VSTM) by 52.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,192 shares of the biopharmaceutical company’s stock after selling 16,806 shares during the period. Jane Street Group LLC’s holdings in Verastem were worth $45,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Stonepine Capital Management LLC purchased a new position in Verastem during the third quarter worth about $3,918,000. State Street Corp grew its stake in Verastem by 18.2% during the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after purchasing an additional 65,265 shares in the last quarter. Nantahala Capital Management LLC acquired a new stake in Verastem during the 2nd quarter valued at approximately $1,192,000. Walleye Capital LLC grew its stake in Verastem by 493.7% during the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock valued at $646,000 after purchasing an additional 179,725 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Verastem by 46.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,601 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 32,791 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VSTM. Guggenheim initiated coverage on Verastem in a research report on Monday, September 30th. They set a “buy” rating and a $13.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Verastem in a report on Friday, October 18th. Mizuho upped their price target on Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on Verastem from $13.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Verastem in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.38.

Insider Activity at Verastem

In other news, CEO Dan Paterson sold 8,568 shares of Verastem stock in a transaction on Monday, January 13th. The stock was sold at an average price of $5.24, for a total value of $44,896.32. Following the completion of the sale, the chief executive officer now directly owns 347,581 shares of the company’s stock, valued at approximately $1,821,324.44. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 10,321 shares of company stock valued at $52,217 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Verastem Price Performance

Shares of VSTM stock opened at $5.31 on Thursday. The stock has a 50 day moving average of $4.73 and a two-hundred day moving average of $3.52. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 2.77. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $14.22. The company has a market capitalization of $236.33 million, a P/E ratio of -1.66 and a beta of 0.24.

Verastem (NASDAQ:VSTM) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.11. As a group, equities analysts expect that Verastem, Inc. will post -3.16 EPS for the current year.

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.