Verastem, Inc. (NASDAQ:VSTM) Shares Purchased by Aries Wealth Management

Aries Wealth Management grew its stake in shares of Verastem, Inc. (NASDAQ:VSTM) by 23.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,415 shares of the biopharmaceutical company’s stock after purchasing an additional 5,000 shares during the quarter. Aries Wealth Management’s holdings in Verastem were worth $137,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Verastem during the third quarter worth about $43,000. Apollon Wealth Management LLC raised its stake in Verastem by 104.6% during the third quarter. Apollon Wealth Management LLC now owns 20,457 shares of the biopharmaceutical company’s stock valued at $61,000 after buying an additional 10,457 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Verastem by 46.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,601 shares of the biopharmaceutical company’s stock valued at $310,000 after buying an additional 32,791 shares in the last quarter. FMR LLC bought a new position in Verastem during the 3rd quarter worth approximately $41,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Verastem in the 3rd quarter worth approximately $3,918,000. Institutional investors own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

VSTM has been the topic of several research reports. B. Riley upped their price target on Verastem from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Guggenheim reissued a “buy” rating on shares of Verastem in a report on Friday, January 24th. Mizuho lifted their price target on shares of Verastem from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Finally, StockNews.com cut shares of Verastem from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

Verastem Trading Up 0.5 %

VSTM stock opened at $6.11 on Friday. The firm’s 50-day simple moving average is $5.34 and its 200 day simple moving average is $3.91. Verastem, Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $13.82. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 2.77.

Insiders Place Their Bets

In other Verastem news, CEO Dan Paterson sold 8,568 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $5.24, for a total transaction of $44,896.32. Following the completion of the transaction, the chief executive officer now owns 347,581 shares in the company, valued at approximately $1,821,324.44. The trade was a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 10,367 shares of company stock worth $53,990. Insiders own 2.20% of the company’s stock.

Verastem Profile

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.