Verastem (NASDAQ:VSTM) Stock Price Down 8.8%

Verastem Inc (NASDAQ:VSTM)’s stock price dropped 8.8% during mid-day trading on Thursday . The stock traded as low as $1.25 and last traded at $1.25, approximately 2,031,125 shares changed hands during trading. An increase of 1% from the average daily volume of 2,005,943 shares. The stock had previously closed at $1.37.

Separately, ValuEngine upgraded Verastem from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $5.46.

The stock’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.30. The company has a debt-to-equity ratio of 6.49, a current ratio of 5.47 and a quick ratio of 5.46. The firm has a market capitalization of $92.94 million, a P/E ratio of -0.91 and a beta of 2.98.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSTM. Tower Research Capital LLC TRC lifted its stake in shares of Verastem by 3,040.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,589 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 17,029 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Verastem by 43.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 26,697 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 8,054 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Verastem in the 1st quarter worth $62,000. GSA Capital Partners LLP raised its holdings in Verastem by 652.1% during the second quarter. GSA Capital Partners LLP now owns 99,057 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 85,887 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in Verastem during the second quarter valued at about $204,000. Institutional investors own 29.57% of the company’s stock.

Verastem Company Profile (NASDAQ:VSTM)

Verastem, Inc, a biopharmaceutical company, focusing on developing and commercializing medicines to improve the survival and quality of life of cancer patients. It markets COPIKTRA (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K) and 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 after at least two prior therapies and relapsed or refractory follicular lymphoma (FL) after at least two prior systemic therapies.

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