Renaissance Technologies LLC reduced its holdings in Verastem (NASDAQ:VSTM) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,691,300 shares of the biopharmaceutical company’s stock after selling 407,600 shares during the period. Renaissance Technologies LLC owned about 3.50% of Verastem worth $5,192,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. AXA grew its holdings in Verastem by 32.2% in the fourth quarter. AXA now owns 78,425 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 19,118 shares during the period. Northern Trust Corp boosted its stake in shares of Verastem by 40.3% in the second quarter. Northern Trust Corp now owns 73,750 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 21,178 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Verastem by 130.5% in the fourth quarter. Wells Fargo & Company MN now owns 45,987 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 26,036 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Verastem in the third quarter worth approximately $136,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Verastem in the fourth quarter worth approximately $108,000. 31.65% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on VSTM. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $17.00 price target on shares of Verastem in a research note on Wednesday, February 7th. Cann reaffirmed a “buy” rating and issued a $13.00 price target on shares of Verastem in a research note on Friday, January 26th. B. Riley began coverage on Verastem in a research note on Thursday, March 8th. They issued a “buy” rating and a $15.00 price target on the stock. HC Wainwright set a $10.00 price target on Verastem and gave the stock a “buy” rating in a research note on Thursday, March 15th. Finally, Zacks Investment Research lowered Verastem from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.66.
Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Tuesday, March 13th. The biopharmaceutical company reported ($0.43) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.42) by ($0.01). research analysts predict that Verastem will post -1.45 earnings per share for the current year.
Verastem, Inc, a biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer. Its programs target the focal adhesion kinase (FAK) and the phosphoinositide 3-kinase (PI3K) signaling pathways. The company's lead FAK inhibitor is defactinib, an orally available candidate for combination therapy with immuno-oncology agents and other anti-cancer compounds.
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