Insider Buying: Verastem Inc (VSTM) Director Acquires 30,000 Shares of Stock
Verastem Inc (NASDAQ:VSTM) Director Timothy J. Barberich purchased 30,000 shares of the stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $2.45 per share, for a total transaction of $73,500.00. Following the completion of the transaction, the director now owns 69,462 shares of the company’s stock, valued at approximately $170,181.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Verastem Inc (VSTM) traded up 0.50% during trading on Friday, hitting $2.02. 296,217 shares of the stock traded hands. The firm’s market capitalization is $74.72 million. The firm has a 50-day moving average of $2.21 and a 200-day moving average of $1.59. Verastem Inc has a 1-year low of $1.05 and a 1-year high of $2.54.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). On average, equities analysts forecast that Verastem Inc will post ($1.31) earnings per share for the current year.
Several brokerages have recently issued reports on VSTM. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $2.00 price target on shares of Verastem in a research report on Thursday, June 8th. Oppenheimer Holdings, Inc. set a $6.00 price objective on Verastem and gave the company a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research raised Verastem from a “sell” rating to a “hold” rating in a report on Thursday, May 25th. Cann reaffirmed a “buy” rating and set a $2.00 price objective on shares of Verastem in a report on Thursday, May 11th. Finally, CIBC reaffirmed an “outperform” rating and set a $6.00 price objective on shares of Verastem in a report on Thursday, April 13th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Verastem has an average rating of “Buy” and a consensus price target of $3.64.
Several hedge funds and other institutional investors have recently modified their holdings of VSTM. FMR LLC boosted its position in shares of Verastem by 32.2% in the fourth quarter. FMR LLC now owns 901,200 shares of the biopharmaceutical company’s stock worth $1,009,000 after buying an additional 219,445 shares in the last quarter. Renaissance Technologies LLC boosted its position in Verastem by 13.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,022,200 shares of the biopharmaceutical company’s stock valued at $1,145,000 after buying an additional 122,600 shares during the period. TFS Capital LLC purchased a new position in Verastem during the first quarter valued at $113,000. Geode Capital Management LLC boosted its position in Verastem by 0.4% in the first quarter. Geode Capital Management LLC now owns 188,743 shares of the biopharmaceutical company’s stock valued at $390,000 after buying an additional 750 shares during the period. Finally, Vanguard Group Inc. boosted its position in Verastem by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,036,613 shares of the biopharmaceutical company’s stock valued at $2,145,000 after buying an additional 51,306 shares during the period.
Verastem, Inc is a biopharmaceutical company. The Company is focused on discovering and developing drugs to improve outcomes for patients with cancer. The Company operates in the segment of developing drugs for the treatment of cancer. The Company’s advanced product candidates are VS 6063, VS 4718 and VS 5584.
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