JPMorgan Chase & Co. raised its position in Versartis Inc. (NASDAQ:VSAR) by 35.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 856,524 shares of the biopharmaceutical company’s stock after buying an additional 225,561 shares during the period. JPMorgan Chase & Co. owned approximately 2.90% of Versartis worth $9,473,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of VSAR. Oxford Asset Management increased its position in shares of Versartis by 28.9% in the second quarter. Oxford Asset Management now owns 80,989 shares of the biopharmaceutical company’s stock worth $896,000 after buying an additional 18,169 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of Versartis during the second quarter worth about $547,000. Swiss National Bank increased its position in shares of Versartis by 8.9% in the second quarter. Swiss National Bank now owns 35,400 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 2,900 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Versartis by 20.2% in the second quarter. California State Teachers Retirement System now owns 57,295 shares of the biopharmaceutical company’s stock worth $634,000 after buying an additional 9,632 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Versartis by 10.9% in the second quarter. Bank of New York Mellon Corp now owns 106,565 shares of the biopharmaceutical company’s stock worth $1,178,000 after buying an additional 10,476 shares in the last quarter. Institutional investors own 69.09% of the company’s stock.
Versartis Inc. (NASDAQ:VSAR) traded down 2.7747% during midday trading on Thursday, hitting $11.9101. The company had a trading volume of 244,523 shares. The stock’s market cap is $351.84 million. The stock’s 50-day moving average price is $12.87 and its 200-day moving average price is $10.58. Versartis Inc. has a 52-week low of $6.17 and a 52-week high of $14.69.
Versartis (NASDAQ:VSAR) last issued its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported ($0.75) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.78) by $0.03. On average, equities research analysts expect that Versartis Inc. will post ($2.76) EPS for the current fiscal year.
A number of brokerages have issued reports on VSAR. Piper Jaffray Cos. initiated coverage on Versartis in a research report on Tuesday. They set an “overweight” rating and a $22.00 price target on the stock. Canaccord Genuity reissued a “buy” rating and set a $28.00 target price on shares of Versartis in a report on Tuesday, September 27th. Credit Suisse Group AG reissued a “sell” rating and set a $11.00 target price on shares of Versartis in a report on Monday, September 19th. Zacks Investment Research cut Versartis from a “buy” rating to a “hold” rating in a report on Saturday, August 13th. Finally, Citigroup Inc. set a $23.00 target price on Versartis and gave the company a “buy” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.20.
In other Versartis news, Director Srinivas Akkaraju purchased 571,429 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was purchased at an average cost of $12.25 per share, with a total value of $7,000,005.25. Following the transaction, the director now owns 11,475 shares in the company, valued at $140,568.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay Shepard sold 5,442 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 155,358 shares of the company’s stock, valued at $2,001,011.04. The disclosure for this sale can be found here. 11.60% of the stock is owned by company insiders.
Versartis Company Profile
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.