Short Interest in Verastem, Inc. (VSTM) Grows By 92.9%
Verastem, Inc. (NASDAQ:VSTM) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,587,876 shares, a growth of 92.9% from the August 15th total of 823,101 shares. Based on an average daily volume of 493,736 shares, the days-to-cover ratio is currently 3.2 days. Currently, 5.0% of the company’s shares are sold short.
Verastem (NASDAQ VSTM) opened at 5.41 on Friday. The firm’s 50-day moving average price is $3.88 and its 200 day moving average price is $2.63. Verastem has a 12-month low of $1.05 and a 12-month high of $5.71. The stock’s market capitalization is $200.13 million.
Verastem (NASDAQ:VSTM) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). On average, equities analysts anticipate that Verastem will post ($1.38) EPS for the current year.
Several research analysts have commented on the company. HC Wainwright set a $7.00 price objective on Verastem and gave the stock a “buy” rating in a report on Thursday, August 10th. Cann restated a “buy” rating on shares of Verastem in a report on Wednesday, August 16th. Zacks Investment Research downgraded Verastem from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Oppenheimer Holdings, Inc. set a $6.00 price objective on Verastem and gave the stock a “buy” rating in a report on Sunday, June 4th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $2.00 price objective on shares of Verastem in a report on Thursday, June 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Verastem presently has an average rating of “Hold” and an average target price of $5.04.
A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in Verastem by 40.3% during the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after purchasing an additional 21,178 shares in the last quarter. Howland Capital Management LLC lifted its stake in Verastem by 16.5% during the second quarter. Howland Capital Management LLC now owns 294,007 shares of the biopharmaceutical company’s stock worth $641,000 after purchasing an additional 41,616 shares in the last quarter. Alpine Woods Capital Investors LLC acquired a new position in Verastem during the second quarter worth $109,000. TFS Capital LLC acquired a new position in Verastem during the first quarter worth $113,000. Finally, Vanguard Group Inc. lifted its stake in Verastem by 10.3% during the second quarter. Vanguard Group Inc. now owns 1,143,642 shares of the biopharmaceutical company’s stock worth $2,493,000 after purchasing an additional 107,029 shares in the last quarter. Institutional investors own 24.19% of the company’s stock.
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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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