Verastem Inc. (VSTM) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of VSTM have clocked gains of 3.73% to $1.39 after closing the day prior at $1.34. In the first two and a half hours of trading, the stock has gone as high as $1.41 and as low as $1.34. Today’s rise has come with about 104,044 shares changing hands, compared to an average 30-day volume of 168,971 for Verastem Inc.. The price is currently below the 30-day volume weighted average price of $1.38 for VSTM.
The share appreciation gives the company a market capitalization of $49.57 million based upon 36.99 million shares outstanding. It also means that VSTM has a price-to-book ratio of 0.56:1.
In the past 52 weeks, shares of VSTM have traded as low as $1.05 and as high as $6.0. Technical traders will take note that at $1.39, shares of VSTM are trading below their 200-day MA at $1.43 and above their 50-day MA at $1.34. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is VSTM?
Verastem Inc is a biopharmaceutical company engaged in discovering and developing proprietary small molecule drugs targeting cancer stem cells along with proprietary companion diagnostics. The company’s 20 employees are led by CEO Robert Forrester from the corporate headquarters at 117 Kendrick Street in Needham, MA.
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