Rhumbline Advisers Purchases 1,420 Shares of Versartis, Inc. (VSAR)
Rhumbline Advisers increased its position in shares of Versartis, Inc. (NASDAQ:VSAR) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,388 shares of the biopharmaceutical company’s stock after acquiring an additional 1,420 shares during the quarter. Rhumbline Advisers owned about 0.10% of Versartis worth $618,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Quadrant L P CA acquired a new position in Versartis in the second quarter valued at approximately $155,000. Bank of America Corp DE grew its holdings in Versartis by 46.3% during the 1st 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 during the period. UBS Group AG acquired a new stake in Versartis during the 1st quarter worth $367,000. Russell Investments Group Ltd. grew its holdings in Versartis by 125.9% during the 1st quarter. Russell Investments Group Ltd. now owns 18,160 shares of the biopharmaceutical company’s stock worth $387,000 after acquiring an additional 10,121 shares during the period. Finally, American International Group Inc. grew its holdings in Versartis by 20.7% during the 1st quarter. American International Group Inc. now owns 18,962 shares of the biopharmaceutical company’s stock worth $405,000 after acquiring an additional 3,250 shares during the period. 78.24% of the stock is currently owned by institutional investors and hedge funds.
Versartis, Inc. (NASDAQ:VSAR) opened at 2.45 on Monday. The stock has a 50 day moving average of $18.37 and a 200 day moving average of $18.36. The firm’s market cap is $87.17 million. Versartis, Inc. has a one year low of $2.35 and a one year high of $24.00.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.84) by ($0.20). Equities research analysts predict that Versartis, Inc. will post ($3.61) EPS for the current fiscal year.
VSAR has been the subject of several recent research reports. Morgan Stanley reiterated an “equal weight” rating and set a $4.00 target price (up previously from $3.00) on shares of Versartis in a research report on Friday, September 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $14.00 price target (down from $34.00) on shares of Versartis in a research report on Friday, September 22nd. Piper Jaffray Companies restated a “buy” rating and issued a $26.00 price target on shares of Versartis in a research report on Friday, September 8th. Zacks Investment Research cut Versartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company cut Versartis from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $45.00 to $3.00 in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $8.20.
In related news, major shareholder Life Sciences Maste Perceptive sold 2,130,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $3.29, for a total value of $7,007,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by company 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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