Verastem, Inc. (NASDAQ:VSTM) Shares Purchased by Aries Wealth Management

Aries Wealth Management increased its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,415 shares of the biopharmaceutical company’s stock after buying an additional 5,000 shares during the quarter. Aries Wealth Management owned about 0.06% of Verastem worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in VSTM. SG Americas Securities LLC purchased a new position in shares of Verastem during the 3rd quarter worth about $43,000. Apollon Wealth Management LLC increased its position in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock worth $61,000 after purchasing an additional 10,457 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Verastem by 46.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,601 shares of the biopharmaceutical company’s stock worth $310,000 after purchasing an additional 32,791 shares during the period. FMR LLC purchased a new position in Verastem during the third quarter worth approximately $41,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Verastem in the 3rd quarter valued at $3,918,000. 88.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Verastem

In other news, CEO Dan Paterson sold 8,568 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the sale, the chief executive officer now directly owns 347,581 shares in the company, valued at $1,821,324.44. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 10,367 shares of company stock valued at $53,990. Corporate insiders own 2.20% of the company’s stock.

Verastem Stock Up 0.5 %

Verastem stock opened at $6.11 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23. Verastem, Inc. has a one year low of $2.10 and a one year high of $13.82. The stock’s 50 day moving average price is $5.34 and its 200 day moving average price is $3.91.

Wall Street Analyst Weigh In

A number of analysts have recently commented on VSTM shares. StockNews.com downgraded Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. BTIG Research upped their price target on Verastem from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, December 31st. B. Riley lifted their price objective on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, January 31st. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Verastem in a report on Thursday, December 19th. Finally, Mizuho raised their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.63.

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.