Versartis (VSAR) Shares Up 15.8%
Versartis, Inc. (NASDAQ:VSAR) shot up 15.8% during trading on Thursday . The company traded as high as $2.40 and last traded at $2.35. 2,811,700 shares traded hands during trading, an increase of 242% from the average session volume of 822,591 shares. The stock had previously closed at $2.03.
A number of brokerages have commented on VSAR. Canaccord Genuity restated a “buy” rating and set a $9.00 price objective (down from $28.00) on shares of Versartis in a research report on Friday, September 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $4.00 price target (up from $3.00) on shares of Versartis in a research note on Friday, September 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $14.00 price target (down from $34.00) on shares of Versartis in a research note on Friday, September 22nd. SunTrust Banks downgraded Versartis from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $4.00 in a research note on Friday, September 22nd. Finally, Cowen downgraded Versartis from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $45.00 to $3.00 in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Versartis currently has an average rating of “Hold” and a consensus price target of $7.22.
The company has a debt-to-equity ratio of 0.11, a current ratio of 1.52 and a quick ratio of 1.52.
In other Versartis news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $3.29, for a total value of $7,007,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Srinivas Akkaraju bought 513,872 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was acquired at an average cost of $2.21 per share, with a total value of $1,135,657.12. Following the completion of the purchase, the director now owns 14,955 shares of the company’s stock, valued at approximately $33,050.55. The disclosure for this purchase can be found here. Over the last three months, insiders sold 2,132,769 shares of company stock valued at $7,014,761. Insiders own 10.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Orbimed Advisors LLC acquired a new position in shares of Versartis during the third quarter worth about $123,000. Bank of America Corp DE boosted its position in shares of Versartis by 46.3% during the first quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock worth $203,000 after buying an additional 3,001 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Versartis during the second quarter worth about $218,000. Numeric Investors LLC acquired a new position in shares of Versartis during the second quarter worth about $246,000. Finally, Voya Investment Management LLC boosted its position in shares of Versartis by 26.1% during the second quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 3,094 shares during the period. 49.18% of the stock is owned by hedge funds and other institutional investors.
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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