Ameriprise Financial Inc. Takes $1.53 Million Position in Versartis, Inc. (VSAR)
Ameriprise Financial Inc. bought a new stake in Versartis, Inc. (NASDAQ:VSAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 87,690 shares of the biopharmaceutical company’s stock, valued at approximately $1,530,000. Ameriprise Financial Inc. owned about 0.25% of Versartis at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. First Quadrant L P CA purchased a new position in shares of Versartis in the 2nd quarter valued at approximately $155,000. Bank of America Corp DE boosted its stake in shares of Versartis by 46.3% in the first quarter. Bank of America Corp DE now owns 9,482 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 3,001 shares in the last quarter. UBS Group AG purchased a new stake in shares of Versartis in the first quarter valued at approximately $367,000. Russell Investments Group Ltd. boosted its stake in shares of Versartis by 125.9% in the first quarter. Russell Investments Group Ltd. now owns 18,160 shares of the biopharmaceutical company’s stock valued at $387,000 after buying an additional 10,121 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Versartis by 20.7% in the first quarter. American International Group Inc. now owns 18,962 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 3,250 shares in the last quarter. Institutional investors own 73.61% of the company’s stock.
A number of analysts recently weighed in on the company. ValuEngine downgraded Versartis from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Piper Jaffray Companies downgraded Versartis from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $4.00 in a research note on Friday, September 22nd. Barclays PLC downgraded Versartis from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $28.00 to $4.00 in a research note on Friday, September 22nd. Citigroup Inc. downgraded Versartis from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $3.00 in a research note on Monday, September 25th. Finally, BidaskClub downgraded Versartis from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. One 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 company currently has a consensus rating of “Hold” and an average price target of $7.22.
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Versartis, Inc. (NASDAQ VSAR) opened at $1.85 on Friday. Versartis, Inc. has a 1-year low of $1.70 and a 1-year high of $24.00. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.09.
Versartis (NASDAQ:VSAR) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.78). During the same period in the previous year, the business earned ($0.92) earnings per share. research analysts predict that Versartis, Inc. will post -4.06 earnings per share for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of Versartis stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $3.29, for a total transaction of $7,007,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 2,132,769 shares of company stock valued at $7,014,761. 10.90% of the stock is currently owned by insiders.
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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