Versartis, Inc. (VSAR) Trading Down 2.6%

Versartis, Inc. (NASDAQ:VSAR) fell 2.6% during mid-day trading on Monday . The stock traded as low as $1.90 and last traded at $1.85. 647,405 shares were traded during trading, a decline of 68% from the average session volume of 2,016,980 shares. The stock had previously closed at $1.90.

Several research firms have issued reports on VSAR. BidaskClub downgraded Versartis from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded Versartis from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine downgraded Versartis from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Cowen and Company restated an “outperform” rating and set a $45.00 price objective on shares of Versartis in a report on Wednesday, August 23rd. Finally, Citigroup Inc. downgraded Versartis from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $3.00 in a report on Monday, September 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.22.

The company has a 50-day moving average of $7.28 and a 200 day moving average of $15.10. The stock’s market capitalization is $66.71 million.

Versartis (NASDAQ:VSAR) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.40) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.78). During the same quarter in the previous year, the business earned ($0.92) earnings per share. Equities research analysts expect that Versartis, Inc. will post ($3.61) earnings per share for the current year.

In other Versartis news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the company’s stock in a transaction that occurred on 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 is available at the SEC website. In the last ninety days, 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 institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC raised its holdings in Versartis by 1.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,597 shares of the biopharmaceutical company’s stock valued at $569,000 after acquiring an additional 535 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Versartis by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 109,409 shares of the biopharmaceutical company’s stock valued at $1,910,000 after acquiring an additional 627 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Versartis by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,326 shares of the biopharmaceutical company’s stock valued at $459,000 after acquiring an additional 1,204 shares in the last quarter. Rhumbline Advisers raised its holdings in Versartis by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 35,388 shares of the biopharmaceutical company’s stock valued at $618,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Alps Advisors Inc. raised its holdings in Versartis by 6.2% in the 2nd quarter. Alps Advisors Inc. now owns 31,780 shares of the biopharmaceutical company’s stock valued at $555,000 after acquiring an additional 1,845 shares in the last quarter. 73.61% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Versartis, Inc. (VSAR) Trading Down 2.6%” was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.com-unik.info/2017/10/30/versartis-inc-vsar-trading-down-2-6.html.

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.

What are top analysts saying about Versartis Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Versartis Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit