Fuller & Thaler Asset Management Inc. purchased a new position in Verastem Inc (NASDAQ:VSTM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 255,477 shares of the biopharmaceutical company’s stock, valued at approximately $1,852,000. Fuller & Thaler Asset Management Inc. owned about 0.35% of Verastem as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System bought a new position in Verastem in the 2nd quarter valued at approximately $100,000. Metropolitan Life Insurance Co. NY bought a new position in Verastem in the 2nd quarter valued at approximately $130,000. Voya Investment Management LLC bought a new position in Verastem in the 2nd quarter valued at approximately $139,000. MetLife Investment Advisors LLC bought a new position in Verastem in the 2nd quarter valued at approximately $184,000. Finally, First Allied Advisory Services Inc. bought a new position in Verastem in the 2nd quarter valued at approximately $240,000. Institutional investors own 48.02% of the company’s stock.
In other Verastem news, Director Michael Kauffman purchased 4,000 shares of the business’s stock in a transaction on Friday, September 28th. The stock was acquired at an average price of $7.49 per share, for a total transaction of $29,960.00. Following the purchase, the director now owns 4,000 shares of the company’s stock, valued at approximately $29,960. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Forrester purchased 10,500 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was acquired at an average price of $7.00 per share, with a total value of $73,500.00. Following the purchase, the chief executive officer now directly owns 209,234 shares in the company, valued at approximately $1,464,638. The disclosure for this purchase can be found here. Insiders acquired a total of 19,500 shares of company stock valued at $139,420 in the last quarter. 5.50% of the stock is currently owned by company insiders.
NASDAQ:VSTM opened at $5.10 on Monday. The company has a quick ratio of 2.97, a current ratio of 2.97 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $376.33 million, a PE ratio of -2.90 and a beta of 3.14. Verastem Inc has a one year low of $2.77 and a one year high of $10.35.
Verastem (NASDAQ:VSTM) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.14. The company had revenue of $15.51 million during the quarter. Sell-side analysts expect that Verastem Inc will post -1.42 EPS for the current fiscal year.
VSTM has been the topic of several research analyst reports. ValuEngine raised Verastem from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 7th. Raymond James increased their price target on Verastem from $7.00 to $12.00 in a report on Friday, August 10th. Cann reissued a “buy” rating and set a $16.00 price target on shares of Verastem in a report on Thursday, August 9th. BidaskClub raised Verastem from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Finally, HC Wainwright increased their price target on Verastem to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $14.60.
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Verastem Company Profile
Verastem, Inc, operating as a Verastem Oncology, is a biopharmaceutical company focuses on developing and commercializing medicines to improve the survival of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and is approved dual inhibitor of PI3K-delta and PI3K-gamma, which is indicated for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.
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