Emerald Acquisition Ltd. purchased a new stake in Versartis Inc. (NASDAQ:VSAR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 49,500 shares of the biopharmaceutical company’s stock, valued at approximately $547,000. Emerald Acquisition Ltd. owned about 0.17% of Versartis as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss National Bank increased its position in Versartis by 8.9% in the second quarter. Swiss National Bank now owns 35,400 shares of the biopharmaceutical company’s stock valued at $392,000 after buying an additional 2,900 shares in the last quarter. California State Teachers Retirement System increased its position in Versartis by 20.2% in the second quarter. California State Teachers Retirement System now owns 57,295 shares of the biopharmaceutical company’s stock valued at $634,000 after buying an additional 9,632 shares in the last quarter. Bank of New York Mellon Corp increased its position in Versartis by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 106,565 shares of the biopharmaceutical company’s stock valued at $1,178,000 after buying an additional 10,476 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Versartis during the first quarter valued at approximately $916,000. Finally, Geode Capital Management LLC increased its position in Versartis by 7.7% in the first quarter. Geode Capital Management LLC now owns 140,495 shares of the biopharmaceutical company’s stock valued at $1,126,000 after buying an additional 9,987 shares in the last quarter. 59.28% of the stock is currently owned by institutional investors.
Shares of Versartis Inc. (NASDAQ:VSAR) traded up 0.41% on Tuesday, hitting $12.15. 10,374 shares of the stock were exchanged. The company’s 50 day moving average is $12.65 and its 200-day moving average is $10.86. The stock’s market cap is $358.92 million. Versartis Inc. has a 52-week low of $6.17 and a 52-week high of $14.69.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. Analysts predict that Versartis Inc. will post ($2.82) EPS for the current fiscal year.
Several research firms recently commented on VSAR. Piper Jaffray Cos. began coverage on shares of Versartis in a research note on Tuesday, October 4th. They issued an “overweight” rating and a $22.00 price target on the stock. Canaccord Genuity reissued a “buy” rating and set a $28.00 target price on shares of Versartis in a research report on Tuesday, September 27th. Credit Suisse Group AG reissued a “sell” rating and set a $11.00 target price on shares of Versartis in a research report on Monday, September 19th. Zacks Investment Research downgraded shares of Versartis from a “buy” rating to a “hold” rating in a research report on Saturday, August 13th. Finally, Citigroup Inc. set a $23.00 target price on shares of Versartis and gave the company a “buy” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Versartis has an average rating of “Buy” and an average target price of $19.20.
In other Versartis news, Director Srinivas Akkaraju bought 571,429 shares of Versartis stock in a transaction on Monday, October 3rd. The shares were purchased at an average cost of $12.25 per share, for a total transaction of $7,000,005.25. Following the completion of the acquisition, the director now owns 11,475 shares in the company, valued at approximately $140,568.75. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jay Shepard sold 5,442 shares of Versartis stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $12.88, for a total value of $70,092.96. Following the transaction, the chief executive officer now owns 155,358 shares in the company, valued at $2,001,011.04. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.
Versartis Company Profile
Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing long-acting recombinant human growth hormone (rhGH), somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s product pipeline includes VRS-317 and XTEN Technology.
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