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Robert E. Gagnon, a director at Verastem, Inc. (NASDAQ:VSTM), has reported the sale of 284 shares of common stock. The transaction, executed on March 17, was made at a price of $6.95 per share, totaling approximately $1,973. The sale comes as VSTM shares have declined nearly 11% over the past week, though the stock has shown remarkable strength with a 137% gain over the past six months, according to InvestingPro data. This sale was undertaken to satisfy statutory withholding requirements related to the vesting of restricted stock units. Following the transaction, Gagnon retains ownership of 34,193 shares in the company. With earnings scheduled for March 21 and a current market capitalization of $321 million, investors seeking deeper insights can access comprehensive analysis and 12 additional key metrics through InvestingPro’s detailed research report.
In other recent news, Verastem has reported several key developments that are capturing investor attention. BTIG has upgraded its price target for Verastem from $13.00 to $20.00 while maintaining a Buy rating, following the FDA’s acceptance of the New Drug Application for Avutometinib combined with Defactinib, aimed at treating KRAS Mutant Low-Grade Serous Ovarian Cancer. This treatment is under priority review, with a decision expected by June 30, 2025. Mizuho (NYSE:MFG) Securities also reiterated an Outperform rating for Verastem, highlighting strategic priorities and significant clinical milestones expected in 2025.
Additionally, Verastem has appointed Matthew E. Ros as the new Chief Operating Officer, bringing extensive experience in the biotech sector to the company. This leadership change aligns with Verastem’s transition to a commercial-stage entity. In collaboration with GenFleet, Verastem is advancing its KRASG12D inhibitor program, with promising early data from preclinical studies.
Moreover, a partnership with IQVIA has been announced to enhance the commercial strategy for Avutometinib and Defactinib. Analysts from B.Riley have also reaffirmed a Buy rating for Verastem, citing the potential of its lead program targeting low-grade serous ovarian cancer. These recent developments underscore Verastem’s strategic focus on expanding its oncology pipeline and commercial capabilities.
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