Cornercap Investment Counsel Inc. Sells 13,254 Shares of Verastem, Inc. (NASDAQ:VSTM)

Cornercap Investment Counsel Inc. lowered its holdings in shares of Verastem, Inc. (NASDAQ:VSTM) by 52.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 11,810 shares of the biopharmaceutical company’s stock after selling 13,254 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Verastem were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Verastem by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,160,931 shares of the biopharmaceutical company’s stock valued at $13,699,000 after purchasing an additional 10,678 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Verastem in the second quarter valued at about $203,000. Rhumbline Advisers raised its position in shares of Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock worth $86,000 after acquiring an additional 28,119 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Verastem in the second quarter worth approximately $82,000. Finally, Nantahala Capital Management LLC bought a new stake in Verastem in the second quarter valued at approximately $1,192,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Analyst Ratings Changes

VSTM has been the subject of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Verastem in a report on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Verastem in a report on Friday, October 18th. Truist Financial cut their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Verastem in a research report on Friday, October 18th. Finally, StockNews.com lowered Verastem from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Verastem presently has a consensus rating of “Moderate Buy” and an average target price of $14.57.

Verastem Stock Performance

Shares of VSTM opened at $3.96 on Wednesday. Verastem, Inc. has a one year low of $2.10 and a one year high of $14.22. The company has a market cap of $176.26 million, a PE ratio of -1.24 and a beta of 0.14. The stock has a 50-day moving average of $3.26 and a 200-day moving average of $3.96. The company has a debt-to-equity ratio of 2.77, a current ratio of 3.23 and a quick ratio of 3.23.

Verastem (NASDAQ:VSTM) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.11. On average, equities research analysts predict that Verastem, Inc. will post -3.24 EPS for the current fiscal year.

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.