Insider Buying: Versartis, Inc. (VSAR) Director Purchases $1,135,657.12 in Stock
Versartis, Inc. (NASDAQ:VSAR) Director Srinivas Akkaraju bought 513,872 shares of the stock in a transaction on Monday, December 4th. The shares were acquired at an average cost of $2.21 per share, with a total value of $1,135,657.12. Following the acquisition, the director now directly owns 14,955 shares in the company, valued at approximately $33,050.55. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Srinivas Akkaraju also recently made the following trade(s):
- On Friday, December 1st, Srinivas Akkaraju bought 419,700 shares of Versartis stock. The shares were acquired at an average cost of $2.13 per share, with a total value of $893,961.00.
Versartis, Inc. (VSAR) opened at $2.25 on Friday. Versartis, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $24.00. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.11.
Versartis (NASDAQ:VSAR) last announced its quarterly earnings results 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 quarter in the prior year, the business earned ($0.92) EPS. sell-side analysts forecast that Versartis, Inc. will post -4.14 EPS for the current fiscal year.
VSAR has been the subject of a number of analyst reports. Cantor Fitzgerald set a $14.00 target price on shares of Versartis and gave the stock a “buy” rating in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $26.00 target price on shares of Versartis in a report on Friday, September 8th. ValuEngine raised shares of Versartis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $9.00 target price (down previously from $28.00) on shares of Versartis in a report on Friday, September 22nd. Finally, SunTrust Banks lowered shares of Versartis from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $4.00 in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $7.22.
Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Versartis by 46.3% in the 1st 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 during the period. Tudor Investment Corp ET AL acquired a new position in shares of Versartis in the 2nd quarter valued at $218,000. Numeric Investors LLC acquired a new position in shares of Versartis in the 2nd quarter valued at $246,000. Voya Investment Management LLC grew its holdings in shares of Versartis by 26.1% in the 2nd quarter. Voya Investment Management LLC now owns 14,960 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 3,094 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in Versartis in the 2nd quarter worth $419,000. 49.18% of the stock is owned by institutional investors.
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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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