Traders Purchase High Volume of Verastem Call Options (NASDAQ:VSTM)

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Verastem, Inc. (NASDAQ:VSTM) was the recipient of some unusual options trading on Wednesday. Traders purchased 6,905 call options on the company. This is an increase of 400% compared to the average daily volume of 1,381 call options.

Separately, Zacks Investment Research downgraded Verastem from a “hold” rating to a “sell” rating in a report on Saturday, November 14th.

NASDAQ:VSTM traded up $0.26 during mid-day trading on Wednesday, reaching $2.74. The stock had a trading volume of 316,818 shares, compared to its average volume of 3,385,737. The stock has a 50-day simple moving average of $2.26 and a two-hundred day simple moving average of $1.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.02 and a quick ratio of 4.80. Verastem has a 12 month low of $1.08 and a 12 month high of $4.67. The stock has a market capitalization of $465.18 million, a PE ratio of -1.93 and a beta of 0.72.

In related news, Director Timothy J. Barberich acquired 50,000 shares of the stock in a transaction dated Friday, December 4th. The stock was bought at an average price of $2.17 per share, with a total value of $108,500.00. Following the completion of the transaction, the director now directly owns 218,000 shares of the company’s stock, valued at $473,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in VSTM. Virtu Financial LLC boosted its stake in shares of Verastem by 5.4% in the 3rd quarter. Virtu Financial LLC now owns 131,827 shares of the biopharmaceutical company’s stock valued at $160,000 after purchasing an additional 6,813 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Verastem by 3.5% in the 3rd quarter. California State Teachers Retirement System now owns 255,118 shares of the biopharmaceutical company’s stock valued at $309,000 after acquiring an additional 8,513 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Verastem by 15.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,598 shares of the biopharmaceutical company’s stock valued at $78,000 after acquiring an additional 8,571 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Verastem by 9.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 107,341 shares of the biopharmaceutical company’s stock worth $229,000 after purchasing an additional 9,049 shares in the last quarter. Finally, Aries Wealth Management raised its position in Verastem by 100.0% in the fourth quarter. Aries Wealth Management now owns 20,000 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 42.15% of the company’s stock.

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.

Further Reading: Trading on Margin

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