SG Americas Securities LLC Sells 175,321 Shares of Verastem, Inc. $VSTM

SG Americas Securities LLC decreased its stake in Verastem, Inc. (NASDAQ:VSTM) by 44.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,004 shares of the biopharmaceutical company’s stock after selling 175,321 shares during the period. SG Americas Securities LLC owned 0.24% of Verastem worth $1,140,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in Verastem by 9.8% during the second quarter. The Manufacturers Life Insurance Company now owns 16,188 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 1,440 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Verastem by 10.6% during the 4th quarter. MetLife Investment Management LLC now owns 28,929 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 2,784 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Verastem by 182.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,578 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 2,960 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of Verastem by 27.1% during the 4th quarter. Osaic Holdings Inc. now owns 20,476 shares of the biopharmaceutical company’s stock worth $158,000 after purchasing an additional 4,366 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Verastem by 110.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,550 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 4,496 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Insider Activity

In related news, CEO Dan Paterson sold 20,871 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $4.18, for a total value of $87,240.78. Following the transaction, the chief executive officer directly owned 591,242 shares in the company, valued at approximately $2,471,391.56. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.94% of the company’s stock.

Analysts Set New Price Targets

VSTM has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Verastem from $15.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of Verastem in a research report on Thursday. Alliance Global Partners reiterated a “buy” rating on shares of Verastem in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Verastem from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Verastem in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.60.

Verastem Price Performance

VSTM stock opened at $4.50 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.04 and a quick ratio of 3.00. The stock has a market capitalization of $395.42 million, a price-to-earnings ratio of -1.67 and a beta of 0.29. The business’s fifty day moving average price is $4.43 and its two-hundred day moving average price is $5.71. Verastem, Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $11.24.

About Verastem

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.