Versartis (VSAR) Trading Down 9.8%

Versartis, Inc. (NASDAQ:VSAR) shares traded down 9.8% during mid-day trading on Tuesday . The stock traded as low as $2.00 and last traded at $2.03. 1,731,900 shares were traded during mid-day trading, an increase of 113% from the average session volume of 813,676 shares. The stock had previously closed at $2.25.

Several research analysts recently issued reports on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 price target on shares of Versartis in a research note on Friday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $14.00 price target (down from $34.00) on shares of Versartis in a research note on Friday, September 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $4.00 price target (up from $3.00) on shares of Versartis in a research note on Friday, September 22nd. Citigroup lowered shares of Versartis from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $3.00 in a research note on Monday, September 25th. Finally, Cowen restated an “outperform” rating and set a $45.00 price objective on shares of Versartis in a research note on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.22.

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.11.

Versartis (NASDAQ:VSAR) last released its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.78). During the same quarter last year, the company posted ($0.92) EPS. equities research analysts anticipate that Versartis, Inc. will post -4.14 earnings per share for the current year.

In related news, Director Srinivas Akkaraju purchased 513,872 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were purchased at an average price of $2.21 per share, with a total value of $1,135,657.12. Following the acquisition, the director now directly owns 14,955 shares in the company, valued at approximately $33,050.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $3.29, for a total transaction of $7,007,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,132,769 shares of company stock worth $7,014,761. Insiders own 10.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Orbimed Advisors LLC purchased a new stake in shares of Versartis during the 3rd quarter valued at about $123,000. Bank of America Corp DE boosted its holdings in shares of Versartis by 46.3% during the 1st quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 3,001 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Versartis during the 2nd quarter valued at about $218,000. Numeric Investors LLC purchased a new stake in shares of Versartis during the 2nd quarter valued at about $246,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Versartis by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock valued at $261,000 after acquiring an additional 3,094 shares during the last quarter. 49.18% of the stock is currently owned by hedge funds and other institutional investors.

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Versartis Company Profile

Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing a long-acting form of recombinant human growth hormone, somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s first indication for somavaratan is pediatric GHD.

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