Verastem, Inc. (NASDAQ:VSTM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Verastem, Inc. (NASDAQ:VSTM) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,601 shares of the biopharmaceutical company’s stock after buying an additional 10,000 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.26% of Verastem worth $587,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Verastem by 67.6% during the third quarter. Geode Capital Management LLC now owns 890,599 shares of the biopharmaceutical company’s stock worth $2,663,000 after buying an additional 359,060 shares in the last quarter. Walleye Capital LLC boosted its stake in shares of Verastem by 493.7% during the 3rd quarter. Walleye Capital LLC now owns 216,126 shares of the biopharmaceutical company’s stock worth $646,000 after acquiring an additional 179,725 shares in the last quarter. State Street Corp grew its holdings in shares of Verastem by 18.2% in the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock worth $1,269,000 after acquiring an additional 65,265 shares during the period. Barclays PLC increased its stake in Verastem by 546.7% in the 3rd quarter. Barclays PLC now owns 55,708 shares of the biopharmaceutical company’s stock valued at $167,000 after purchasing an additional 47,094 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Verastem during the third quarter worth $112,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Verastem Stock Performance

Shares of VSTM opened at $6.03 on Tuesday. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $13.52. The company’s fifty day moving average is $6.16 and its 200-day moving average is $4.81. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77. The firm has a market cap of $310.47 million, a price-to-earnings ratio of -1.89 and a beta of 0.60.

Verastem (NASDAQ:VSTM) last issued its quarterly earnings results on Thursday, March 20th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.57). Equities analysts expect that Verastem, Inc. will post -3.02 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dan Paterson sold 8,568 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $5.24, for a total transaction of $44,896.32. Following the transaction, the chief executive officer now directly owns 347,581 shares in the company, valued at approximately $1,821,324.44. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 9,960 shares of company stock worth $53,498. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on VSTM shares. Guggenheim upped their price objective on Verastem from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, March 24th. Mizuho boosted 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. StockNews.com upgraded Verastem from a “sell” rating to a “hold” rating in a report on Monday, March 24th. Royal Bank of Canada decreased 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 Friday, March 21st. Finally, B. Riley lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $13.88.

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.