Verastem, Inc. $VSTM Shares Acquired by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP boosted its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 715.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,400 shares of the biopharmaceutical company’s stock after acquiring an additional 108,260 shares during the quarter. Seven Fleet Capital Management LP owned about 0.14% of Verastem worth $654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Russell Investments Group Ltd. raised its holdings in shares of Verastem by 182.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Verastem during the 2nd quarter worth $49,000. DRW Securities LLC acquired a new position in shares of Verastem during the fourth quarter worth $93,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Verastem during the second quarter worth $53,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 20,871 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares of the company’s stock, valued at approximately $2,471,391.56. The trade was a 3.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada set a $14.00 target price on Verastem and gave the company an “outperform” rating in a report on Tuesday, July 7th. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings cut Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Mizuho dropped their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Verastem in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Verastem Stock Performance

NASDAQ VSTM opened at $5.80 on Friday. The firm has a market cap of $509.65 million, a P/E ratio of -2.15 and a beta of 0.29. The company has a quick ratio of 3.00, a current ratio of 3.04 and a debt-to-equity ratio of 0.89. The business’s 50-day moving average price is $4.69 and its 200 day moving average price is $5.41. Verastem, Inc. has a 52-week low of $3.43 and a 52-week high of $11.24.

Verastem Profile

Verastem Oncology, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of small molecule therapies that target cancer stemness and resistance pathways. Established in 2010 and headquartered in Needham, Massachusetts, Verastem Oncology applies a precision-medicine approach to identify key signaling nodes responsible for tumor growth and relapse, with an emphasis on hematologic malignancies and solid tumors. The company’s research platform integrates insights into complex signaling networks to advance novel compounds from early discovery through clinical proof of concept.

The company’s lead marketed product is COPIKTRA (duvelisib), an oral inhibitor of PI3K-delta and PI3K-gamma, which received U.S.