Versartis Inc. (VSAR) Short Interest Update
Versartis Inc. (NASDAQ:VSAR) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 974,210 shares, a decline of 26.6% from the August 31st total of 1,327,030 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average trading volume of 102,250 shares, the days-to-cover ratio is currently 9.5 days.
Shares of Versartis (NASDAQ:VSAR) opened at 12.25 on Friday. The stock’s market capitalization is $361.88 million. Versartis has a 1-year low of $6.17 and a 1-year high of $14.69. The stock has a 50 day moving average of $12.93 and a 200-day moving average of $10.44.
Versartis (NASDAQ:VSAR) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.78) by $0.03. Equities research analysts predict that Versartis will post ($2.76) earnings per share for the current fiscal year.
In related news, CEO Jay Shepard sold 5,442 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.88, for a total transaction of $70,092.96. Following the transaction, the chief executive officer now directly owns 155,358 shares in the company, valued at $2,001,011.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in VSAR. JPMorgan Chase & Co. increased its position in shares of Versartis by 35.7% in the second quarter. JPMorgan Chase & Co. now owns 856,524 shares of the biopharmaceutical company’s stock worth $9,473,000 after buying an additional 225,561 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Versartis by 13.8% in the second quarter. BlackRock Fund Advisors now owns 1,078,025 shares of the biopharmaceutical company’s stock worth $11,923,000 after buying an additional 130,529 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Versartis during the first quarter worth about $916,000. Emerald Acquisition Ltd. bought a new position in shares of Versartis during the second quarter worth about $547,000. Finally, State Street Corp increased its position in shares of Versartis by 8.8% in the first quarter. State Street Corp now owns 347,718 shares of the biopharmaceutical company’s stock worth $2,787,000 after buying an additional 28,154 shares in the last quarter. Institutional investors and hedge funds own 69.09% of the company’s stock.
VSAR has been the topic of a number of recent research reports. Credit Suisse Group AG restated a “sell” rating and set a $11.00 price target 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 note on Saturday, August 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 target price on shares of Versartis in a research note on Friday, July 29th. Finally, Citigroup Inc. set a $23.00 target price on shares of Versartis and gave the stock a “buy” rating in a research note on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $18.50.
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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