Versartis (VSAR) Trading Down 5.6%

Versartis Inc (NASDAQ:VSAR) shares traded down 5.6% during mid-day trading on Friday . The stock traded as low as $1.60 and last traded at $1.70. 1,162,086 shares were traded during mid-day trading, an increase of 81% from the average session volume of 643,428 shares. The stock had previously closed at $1.80.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Versartis from a “hold” rating to a “sell” rating in a research report on Sunday, January 21st. Cantor Fitzgerald set a $14.00 price target on shares of Versartis and gave the stock a “buy” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $5.63.

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $64.46, a PE ratio of -0.43 and a beta of 2.11.

In other news, Director Srinivas Akkaraju acquired 513,872 shares of the stock in a transaction on Monday, December 4th. The shares were purchased at an average cost of $2.21 per share, for a total transaction of $1,135,657.12. Following the transaction, the director now owns 14,955 shares in the company, valued at approximately $33,050.55. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 10.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of VSAR. Orbimed Advisors LLC purchased a new position in Versartis during the 3rd quarter worth approximately $123,000. Tudor Investment Corp ET AL purchased a new position in Versartis during the 2nd quarter worth approximately $218,000. Numeric Investors LLC purchased a new position in Versartis during the 2nd quarter worth approximately $246,000. Voya Investment Management LLC grew its position in Versartis by 26.1% during the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock worth $261,000 after purchasing an additional 3,094 shares in the last quarter. Finally, First Quadrant L P CA grew its position in Versartis by 1,253.8% during the 3rd quarter. First Quadrant L P CA now owns 120,500 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 111,599 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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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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