Versartis, Inc. (VSAR) Director Srinivas Akkaraju Buys 419,700 Shares of Stock

Versartis, Inc. (NASDAQ:VSAR) Director Srinivas Akkaraju bought 419,700 shares of Versartis stock in a transaction dated Friday, December 1st. The stock was acquired at an average cost of $2.13 per share, with a total value of $893,961.00. Following the transaction, the director now owns 14,955 shares of the company’s stock, valued at approximately $31,854.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Srinivas Akkaraju also recently made the following trade(s):

  • On Monday, December 4th, Srinivas Akkaraju bought 513,872 shares of Versartis stock. The stock was acquired at an average cost of $2.21 per share, with a total value of $1,135,657.12.

Versartis, Inc. (VSAR) remained flat at $$2.02 during mid-day trading on Wednesday. 909,500 shares of the stock were exchanged, compared to its average volume of 814,079. Versartis, Inc. has a 52 week low of $1.60 and a 52 week high of $24.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.52 and a quick ratio of 1.52.

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 Zacks’ consensus estimate of ($0.62) by ($0.78). During the same quarter last year, the business earned ($0.92) earnings per share. equities analysts expect that Versartis, Inc. will post -4.14 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity reissued a “buy” rating and issued a $9.00 target price (down previously from $28.00) on shares of Versartis in a research report on Friday, September 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $4.00 target price (up previously from $3.00) on shares of Versartis in a research report on Friday, September 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $14.00 target price (down previously from $34.00) on shares of Versartis in a research report on Friday, September 22nd. SunTrust Banks downgraded Versartis from a “buy” rating to a “hold” rating and dropped their price target 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 dropped their price target for the company from $45.00 to $3.00 in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Versartis currently has a consensus rating of “Hold” and a consensus price target of $7.22.

A number of hedge funds and other institutional investors have recently modified their holdings of VSAR. Teachers Advisors LLC raised its stake in Versartis by 9.7% during the first quarter. Teachers Advisors LLC now owns 55,244 shares of the biopharmaceutical company’s stock worth $1,179,000 after acquiring an additional 4,876 shares in the last quarter. Vanguard Group Inc. raised its stake in Versartis by 11.3% during the first quarter. Vanguard Group Inc. now owns 1,002,507 shares of the biopharmaceutical company’s stock worth $21,404,000 after acquiring an additional 101,578 shares in the last quarter. Geode Capital Management LLC raised its stake in Versartis by 41.0% during the first quarter. Geode Capital Management LLC now owns 257,417 shares of the biopharmaceutical company’s stock worth $5,495,000 after acquiring an additional 74,865 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Versartis by 5.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 108,782 shares of the biopharmaceutical company’s stock worth $2,323,000 after acquiring an additional 5,643 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in 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 acquiring an additional 3,001 shares in the last quarter. 49.18% of the stock is owned by hedge funds and other institutional investors.

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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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