Versartis Inc. (NASDAQ:VSAR) shares dropped 2.9% during trading on Monday . The stock traded as low as $12.41 and last traded at $12.51, with a volume of 104,129 shares. The stock had previously closed at $12.89.

VSAR has been the subject of several research reports. Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st. Credit Suisse Group AG reaffirmed a “sell” rating and issued a $9.00 target price on shares of Versartis in a research report on Friday, July 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $28.00 target price on shares of Versartis in a research report on Friday, July 29th. Finally, Citigroup Inc. set a $23.00 target price on Versartis and gave the stock a “buy” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $18.50.

The stock’s 50-day moving average price is $12.53 and its 200 day moving average price is $10.11. The company’s market capitalization is $369.56 million.

Versartis (NASDAQ:VSAR) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. Equities analysts anticipate that Versartis Inc. will post ($2.76) EPS for the current year.

In related news, CEO Jay Shepard sold 5,442 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $12.88, for a total transaction of $70,092.96. Following the transaction, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at approximately $2,001,011.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VSAR. BlackRock Advisors LLC raised its position in Versartis by 12.1% in the second quarter. BlackRock Advisors LLC now owns 11,631 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 1,252 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Versartis during the second quarter worth $142,000. American International Group Inc. raised its position in Versartis by 19.4% in the second quarter. American International Group Inc. now owns 15,729 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 2,554 shares during the last quarter. A.R.T. Advisors LLC raised its position in Versartis by 62.7% in the second quarter. A.R.T. Advisors LLC now owns 17,547 shares of the biopharmaceutical company’s stock worth $194,000 after buying an additional 6,761 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Versartis during the second quarter worth $210,000. 69.09% of the stock is currently owned by institutional investors and hedge funds.

About Versartis

Versartis, Inc is an endocrine-focused biopharmaceutical company. The Company is engaged in developing long-acting recombinant human growth hormone (rhGH), somavaratan (VRS-317), for growth hormone deficiency (GHD), an orphan disease. The Company’s product pipeline includes VRS-317 and XTEN Technology.

5 Day Chart for NASDAQ:VSAR

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