Versartis, Inc. (VSAR) Sees Large Increase in Short Interest

Versartis, Inc. (NASDAQ:VSAR) saw a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 2,451,635 shares, a growth of 68.8% from the September 15th total of 1,451,990 shares. Based on an average daily volume of 7,869,726 shares, the short-interest ratio is currently 0.3 days. Approximately 9.5% of the company’s stock are short sold.

In other 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 shares were sold at an average price of $3.29, for a total value of $7,007,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of VSAR. First Quadrant L P CA bought a new stake in Versartis during the 2nd quarter worth about $155,000. Bank of America Corp DE boosted its stake in shares of Versartis by 46.3% in the 1st quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 3,001 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Versartis in the 2nd quarter valued at about $218,000. Numeric Investors LLC bought a new position in shares of Versartis in the 2nd quarter valued at about $246,000. Finally, Voya Investment Management LLC boosted its stake in shares of Versartis by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 3,094 shares during the last quarter. 78.24% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Versartis (VSAR) opened at 2.70 on Friday. Versartis has a 52 week low of $2.35 and a 52 week high of $24.00. The firm’s market capitalization is $96.06 million. The stock has a 50 day moving average of $12.32 and a 200-day moving average of $16.56.

Versartis (NASDAQ:VSAR) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.20). Analysts expect that Versartis will post ($3.61) earnings per share for the current year.

A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Versartis from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Versartis from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine lowered shares of Versartis from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Cowen and Company reissued an “outperform” rating and set a $45.00 target price on shares of Versartis in a research note on Wednesday, August 23rd. Finally, Piper Jaffray Companies set a $26.00 target price on shares of Versartis and gave the company a “buy” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.22.

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About Versartis

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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