Versartis, Inc. (NASDAQ:VSAR)’s share price traded down 10.1% during trading on Monday . The company traded as low as $2.05 and last traded at $2.05. 1,199,730 shares traded hands during trading, an increase of 46% from the average session volume of 824,086 shares. The stock had previously closed at $2.28.

A number of equities analysts recently commented on the company. Piper Jaffray Companies cut Versartis from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $4.00 in a report on Friday, September 22nd. Citigroup cut Versartis from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $3.00 in a research note on Monday, September 25th. Barclays cut Versartis from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $28.00 to $4.00 in a research note on Friday, September 22nd. SunTrust Banks cut Versartis from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $4.00 in a research note on Friday, September 22nd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $9.00 price objective (down previously from $28.00) on shares of Versartis in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.63.

The company has a market cap of $71.62, a P/E ratio of -0.53 and a beta of 2.35. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.11.

Versartis (NASDAQ:VSAR) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.40) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.78). During the same period in the previous year, the firm posted ($0.92) earnings per share. sell-side analysts anticipate that Versartis, Inc. will post -4.14 earnings per share for the current year.

In other news, Director Srinivas Akkaraju purchased 513,872 shares of the business’s stock in a transaction on Monday, December 4th. The shares were bought at an average price of $2.21 per share, with a total value of $1,135,657.12. Following the completion of the transaction, 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 can be accessed through this link. In the last ninety days, insiders have sold 2,769 shares of company stock worth $7,061. 10.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC increased its position in Versartis by 1.7% during the second quarter. Parametric Portfolio Associates LLC now owns 32,597 shares of the biopharmaceutical company’s stock worth $569,000 after buying an additional 535 shares during the period. Schwab Charles Investment Management Inc. increased its position in Versartis by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 109,409 shares of the biopharmaceutical company’s stock worth $1,910,000 after buying an additional 627 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Versartis by 4.8% in the second quarter. The Manufacturers Life Insurance Company now owns 26,326 shares of the biopharmaceutical company’s stock valued at $459,000 after purchasing an additional 1,204 shares during the period. Rhumbline Advisers increased its holdings in shares of Versartis by 4.2% in the second quarter. Rhumbline Advisers now owns 35,388 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 1,420 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Versartis by 2.2% in the second quarter. Goldman Sachs Group Inc. now owns 103,044 shares of the biopharmaceutical company’s stock valued at $1,798,000 after purchasing an additional 2,260 shares during the period. 49.18% of the stock is currently owned by institutional investors.

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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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