AIGH Capital Management LLC Takes $10.60 Million Position in Verastem, Inc. $VSTM

AIGH Capital Management LLC purchased a new stake in Verastem, Inc. (NASDAQ:VSTM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000,000 shares of the biopharmaceutical company’s stock, valued at approximately $10,600,000. Verastem accounts for 1.4% of AIGH Capital Management LLC’s investment portfolio, making the stock its 21st largest position. AIGH Capital Management LLC owned 2.28% of Verastem at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VSTM. Russell Investments Group Ltd. increased 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 worth $40,000 after purchasing an additional 2,960 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Verastem by 110.9% in the 3rd 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 during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Verastem in the 2nd quarter worth $49,000. DRW Securities LLC bought a new position in shares of Verastem during the 4th quarter worth $93,000. Finally, Nebula Research & Development LLC bought a new position in shares of Verastem during the 2nd quarter worth $53,000. Institutional investors own 88.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VSTM shares. Weiss Ratings downgraded Verastem from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Mizuho dropped their target price on shares of Verastem from $16.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. BTIG Research reiterated a “buy” rating and set a $18.00 target price on shares of Verastem in a report on Thursday, July 2nd. Royal Bank Of Canada set a $14.00 target price on shares of Verastem and gave the company an “outperform” rating in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Verastem from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Verastem currently has an average rating of “Moderate Buy” and an average target price of $14.40.

Insider Buying and Selling at Verastem

In related news, CEO Dan Paterson sold 20,871 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $4.18, for a total transaction of $87,240.78. Following the sale, the chief executive officer owned 591,242 shares of the company’s stock, valued at $2,471,391.56. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.94% of the stock is owned by company insiders.

Verastem Trading Up 4.7%

Shares of NASDAQ:VSTM opened at $5.08 on Thursday. Verastem, Inc. has a 12-month low of $3.43 and a 12-month high of $11.24. The business’s fifty day simple moving average is $4.36 and its 200-day simple moving average is $5.61. The company has a market capitalization of $446.38 million, a PE ratio of -1.88 and a beta of 0.29. The company has a current ratio of 3.04, a quick ratio of 3.00 and a debt-to-equity ratio of 0.89.

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.