A Verastem Board Member Bought in at $11.53

Verastem, board member: On Monday October 7th, Richard Aldrich, a member of the Board of Directors at Verastem Inc (NASDAQ:VSTM), purchased 1,000 shares of common stock at a price of $11.53 each, for a total value of $11,530. The operation increased the holding of Richard H. Aldrich 2005 Revocable Trust to 15,000 shares of common stock, valued at $165,900.

Those shares are under Mr. Aldrich’s indirect control, as are another 2,869,841 shares of common stock owned by Longwood Fund, L.P. worth approximately $31,740,441, and 135,714 shares of common stock under the control of Richard H. Aldrich Irrevocable Trust of 2011 said to be worth 1,500,996. Last, Mr. Aldrich holds under his direct control an additional 407,142 shares of common stock for an estimated worth of $4,502,990.

Since July, Mr. Aldrich has been very active completing 15 transactions. In addition to yesterday’s purchase, Mr. Aldrich has registered 5 transactions in July totaling 5,000 shares of common stock with prices ranging from $14.11 to $17.19, another 4,000 shares of common stock through August paying between $13.45-15.25 each, and 5,000 shares of common stock more in September at an average price of $13.52.

The stock’s price has entered a free fall after hitting a historical high at $17.19 per share on July 12^th, 2013. Yesterday, its price stood at $11.09, which is lower than any of the prices paid by Mr. Aldrich. And the largest hedge fund holding a position within the company is Qvt Financial, led by Daniel Gold, with 271,101 shares of common stock, followed by Sophrosyne Capital, led by Benjamin J. Taylor, with 223,043 shares of common stock, and Bridger Management, led by Roberto Mignone, with 200,000 shares of common stock.

Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.

Recommended Reading:

Alico Director Gordon Walker is Behaving Bullishly Today

Oiltanking Partners Insider is Buying at $55 a Share

How One Anacor Pharmaceuticals Insider is Making Bank