Verastem Inc (NASDAQ:VSTM) Short Interest Down 30.4% in March

Verastem Inc (NASDAQ:VSTM) was the target of a significant decrease in short interest in March. As of March 29th, there was short interest totalling 16,839,750 shares, a decrease of 30.4% from the March 15th total of 24,185,220 shares. Based on an average trading volume of 2,899,002 shares, the days-to-cover ratio is currently 5.8 days. Currently, 24.8% of the company’s stock are short sold.

Several research firms have weighed in on VSTM. BidaskClub upgraded shares of Verastem from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 9th. Zacks Investment Research downgraded shares of Verastem from a “buy” rating to a “hold” rating in a report on Saturday, January 5th. HC Wainwright lowered their target price on shares of Verastem from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Finally, Raymond James lowered their target price on shares of Verastem from $12.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.64.

In related news, Director Timothy J. Barberich bought 33,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $3.21 per share, with a total value of $105,930.00. Following the completion of the purchase, the director now directly owns 168,000 shares in the company, valued at $539,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Verastem in the fourth quarter valued at approximately $35,000. Principal Financial Group Inc. bought a new stake in Verastem during the fourth quarter valued at approximately $35,000. BNP Paribas Arbitrage SA bought a new stake in Verastem during the first quarter valued at approximately $42,000. HRT Financial LLC bought a new stake in Verastem during the third quarter valued at approximately $109,000. Finally, Pacer Advisors Inc. bought a new stake in Verastem during the third quarter valued at approximately $123,000. Institutional investors own 59.08% of the company’s stock.

NASDAQ:VSTM traded down $0.03 on Friday, reaching $2.03. 1,911,809 shares of the company’s stock were exchanged, compared to its average volume of 2,588,450. The company has a quick ratio of 6.82, a current ratio of 6.83 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $149.97 million, a PE ratio of -1.48 and a beta of 2.84. Verastem has a 52 week low of $1.96 and a 52 week high of $10.35.

Verastem (NASDAQ:VSTM) last issued its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.23. The business had revenue of $1.21 million for the quarter, compared to the consensus estimate of $5.56 million. Analysts anticipate that Verastem will post -1.75 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was published by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.baseballdailydigest.com/news/2019/05/04/verastem-inc-vstm-short-interest-down-30-4-in-march.html.

Verastem Company Profile

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.

Read More: What is total return in investing?

Receive News & Ratings for Verastem Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verastem and related companies with MarketBeat.com's FREE daily email newsletter.