SoFi CEO enters prepaid forward contract on 1.5 million shares
Daniel Calkins, the Chief Financial Officer of Verastem, Inc. (NASDAQ:VSTM), recently reported the sale of company shares valued at $630. These transactions, disclosed in a Form 4 filing with the SEC, took place on March 20 and March 24. The shares were sold at prices ranging from $6.89 to $7.04 per share. According to InvestingPro data, while VSTM’s stock has seen a remarkable 148% gain over the past six months, it experienced an 8% decline in the past week. The current trading price of $6.88 appears fairly valued based on InvestingPro’s Fair Value analysis.
Following these sales, Calkins retains ownership of 86,348 shares of Verastem. The sales were conducted to meet statutory withholding requirements related to the vesting of restricted stock units, as noted in the filing. InvestingPro analysis reveals that while the company holds more cash than debt and maintains strong liquidity with a current ratio of 3.07, it faces profitability challenges. Discover 8 additional key insights about VSTM with an InvestingPro subscription, including detailed financial health metrics and growth prospects.
In other recent news, Verastem has announced its financial results for the fourth quarter and full year 2024, reporting licensing revenues of $10.0 million, which exceeded the consensus revenue estimate of $7.7 million. However, the company experienced a net loss of $3.66 per share, greater than the anticipated consensus net loss of $3.03 per share. Guggenheim Securities has adjusted its price target for Verastem, raising it from $13.00 to $14.00, while maintaining a Buy rating, following discussions with management about the upcoming launch of their drug treatments. Similarly, H.C. Wainwright increased their price target for Verastem shares to $10.00 from $7.00, also maintaining a Buy rating, and BTIG reaffirmed their $20.00 price target and Buy rating, citing Verastem’s potential in the oncology market.
Mizuho (NYSE:MFG) Securities reiterated an Outperform rating with a price target of $9.00, highlighting the company’s strategic priorities for 2025 and the anticipated PDUFA date for its lead asset combination in treating KRAS-mutant low-grade serous ovarian cancer. In addition to financial developments, Verastem has appointed Matthew E. Ros as its new Chief Operating Officer, bringing extensive biotech experience to the company. Ros’s appointment is part of Verastem’s efforts to strengthen its leadership team as it advances its pipeline of oncology therapeutics. The company also reported having a pro forma cash balance of $151.3 million as of January 13, following debt refinancing with Oberland Capital, which is expected to support operations through the potential launch of RAMP 201 into the fourth quarter of 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.