Verastem, Inc. (NASDAQ:VSTM) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its position in Verastem, Inc. (NASDAQ:VSTM) by 67.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,599 shares of the biopharmaceutical company’s stock after acquiring an additional 359,060 shares during the period. Geode Capital Management LLC’s holdings in Verastem were worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of VSTM. Barclays PLC grew its holdings in Verastem by 546.7% in the third 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 during the last quarter. XTX Topco Ltd purchased a new stake in shares of Verastem in the 3rd quarter worth about $112,000. State Street Corp grew its stake in Verastem by 18.2% in the 3rd quarter. State Street Corp now owns 424,264 shares of the biopharmaceutical company’s stock valued at $1,269,000 after acquiring an additional 65,265 shares during the last quarter. Stifel Financial Corp increased its holdings in Verastem by 62.3% during the 3rd quarter. Stifel Financial Corp now owns 30,339 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 11,642 shares in the last quarter. Finally, Walleye Capital LLC raised its position in Verastem by 493.7% during the third 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 during the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Mizuho raised their price target on Verastem from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. StockNews.com cut Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Guggenheim assumed coverage on Verastem in a research note on Monday, September 30th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Verastem in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.38.

Verastem Stock Down 2.7 %

VSTM opened at $6.54 on Wednesday. Verastem, Inc. has a 12 month low of $2.10 and a 12 month high of $14.22. The business has a 50-day moving average of $4.55 and a two-hundred day moving average of $3.43. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. The stock has a market capitalization of $291.08 million, a price-to-earnings ratio of -2.05 and a beta of 0.24.

Verastem (NASDAQ:VSTM) last released its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.11. On average, research analysts expect that Verastem, Inc. will post -3.16 earnings per share for the current year.

Verastem 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.