Armistice Capital LLC Grows Position in Verastem, Inc. $VSTM

Armistice Capital LLC raised its holdings in Verastem, Inc. (NASDAQ:VSTM) by 68.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,536,000 shares of the biopharmaceutical company’s stock after purchasing an additional 1,440,000 shares during the period. Armistice Capital LLC owned 5.29% of Verastem worth $27,298,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock valued at $40,000 after buying an additional 2,960 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in shares of Verastem during the second quarter worth about $49,000. Nebula Research & Development LLC purchased a new position in shares of Verastem during the second quarter worth about $53,000. The Manufacturers Life Insurance Company boosted its stake in Verastem by 9.8% in the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 1,440 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Verastem by 110.9% in the third quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after buying an additional 4,496 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VSTM. Mizuho lowered their price objective on Verastem from $16.00 to $14.00 and set an “outperform” rating for the company in a research report on Thursday, May 14th. BTIG Research cut their target price on Verastem from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wall Street Zen raised Verastem from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Verastem from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.60.

Verastem Stock Performance

NASDAQ VSTM opened at $4.17 on Thursday. The stock has a market capitalization of $366.42 million, a PE ratio of -1.54 and a beta of 0.27. The business has a 50 day simple moving average of $4.89 and a two-hundred day simple moving average of $6.19. 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.

Verastem Profile

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.