NEXTBio Capital Management LP Makes New Investment in Verastem, Inc. $VSTM

NEXTBio Capital Management LP acquired a new position in Verastem, Inc. (NASDAQ:VSTM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,307,330 shares of the biopharmaceutical company’s stock, valued at approximately $10,093,000. Verastem comprises about 5.9% of NEXTBio Capital Management LP’s investment portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Entropy Technologies LP purchased a new position in Verastem in the fourth quarter worth $161,000. Barclays PLC boosted its position in Verastem by 19.9% in the fourth quarter. Barclays PLC now owns 201,845 shares of the biopharmaceutical company’s stock worth $1,558,000 after purchasing an additional 33,470 shares during the last quarter. Quarry LP purchased a new position in Verastem in the fourth quarter worth $208,000. Exome Asset Management LLC purchased a new position in Verastem in the fourth quarter worth $3,101,000. Finally, Rafferty Asset Management LLC boosted its position in Verastem by 40.8% in the fourth quarter. Rafferty Asset Management LLC now owns 129,333 shares of the biopharmaceutical company’s stock worth $998,000 after purchasing an additional 37,481 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Verastem Stock Performance

Shares of VSTM opened at $4.10 on Friday. The firm has a market cap of $360.27 million, a PE ratio of -1.52 and a beta of 0.27. The stock’s fifty day moving average price is $4.98 and its two-hundred day moving average price is $6.35. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. Verastem, Inc. has a 1 year low of $3.55 and a 1 year high of $11.24.

Analyst Upgrades and Downgrades

Several research firms have weighed in on VSTM. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Alliance Global Partners restated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Verastem in a research note on Friday, April 10th. Weiss Ratings upgraded Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Mizuho lowered their target price on Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Verastem has an average rating of “Moderate Buy” and an average price target of $15.60.

About Verastem

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.