Verastem Oncology (NASDAQ:VSTM) Stock Sees Buying Interest After The Recent Correction

Verastem Oncology (NASDAQ:VSTM) jumped 4% but the stock down 16% in a month. The biopharmaceutical company focused on developing novel treatments for cancer patients has announced a grant of options to acquire 16,250 of its common stock shares and 8,125 restricted stock units grants to three new employees.

The inducement grants have been offered as incentives to the employees to accept working with Verastem oncology as per the Nasdaq listing rule 5635(c)(4).

The grants have an exercise price equivalent to $4.07 per share, which is the closing price for VSTM common stock, as Nasdaq reported on July 1, 2021. The RSUs and stock options are given to the three new employees have a vested rate of 25% at the first year anniversary of the employees’ hiring date, and the rest of the shares will be b vested quarterly over the next three years in equal amounts. This is subject to employees continuing to work at Verastem Oncology. In the coming weeks, VSTM is a stock to watch. 

Market Reaction:

On Wednesday, VSTM stock moved up 3.67% at $3.39 with more than 735k shares, compared to its average volume of 2.85 million shares. The stock has moved within a range of $3.2600 – 3.4100 after opening the trade at $3.26. Over the past 52-week, the stock has been trading within a range of $1.0800 – 4.9300.