Renaissance Technologies LLC raised its stake in shares of Versartis, Inc. (NASDAQ:VSAR) by 334.6% during the first quarter, Holdings Channel reports. The firm owned 214,700 shares of the biopharmaceutical company’s stock after buying an additional 165,300 shares during the period. Renaissance Technologies LLC’s holdings in Versartis were worth $4,584,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Versartis by 21.1% in the first quarter. Bank of New York Mellon Corp now owns 164,247 shares of the biopharmaceutical company’s stock valued at $3,506,000 after buying an additional 28,666 shares during the period. Wells Fargo & Company MN increased its stake in shares of Versartis by 92.3% in the first quarter. Wells Fargo & Company MN now owns 40,779 shares of the biopharmaceutical company’s stock valued at $871,000 after buying an additional 19,568 shares during the period. Russell Investments Group Ltd. increased 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 during the period. Strs Ohio increased its stake in shares of Versartis by 101.1% in the first quarter. Strs Ohio now owns 35,000 shares of the biopharmaceutical company’s stock valued at $747,000 after buying an additional 17,600 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Versartis during the first quarter valued at about $587,000. 78.24% of the stock is currently owned by institutional investors.
Shares of Versartis, Inc. (VSAR) traded up 1.13% during trading on Friday, hitting $17.90. The stock had a trading volume of 105,903 shares. The firm’s market cap is $632.16 million. Versartis, Inc. has a 52-week low of $9.05 and a 52-week high of $24.00. The firm’s 50-day moving average is $17.66 and its 200 day moving average is $17.90.
Versartis (NASDAQ:VSAR) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.84) by $0.20. On average, analysts expect that Versartis, Inc. will post ($3.29) EPS for the current year.
TRADEMARK VIOLATION WARNING: “Versartis, Inc. (NASDAQ:VSAR) Position Increased by Renaissance Technologies LLC” was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this article on another site, it was copied illegally and republished in violation of U.S. and international trademark and copyright law. The correct version of this article can be viewed at https://stocknewstimes.com/2017/08/05/versartis-inc-nasdaqvsar-position-increased-by-renaissance-technologies-llc.html.
Several brokerages recently issued reports on VSAR. BidaskClub raised Versartis from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies set a $26.00 target price on Versartis and gave the company a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Versartis from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Canaccord Genuity set a $28.00 target price on Versartis and gave the company a “buy” rating in a research note on Friday, July 28th. Finally, Cantor Fitzgerald set a $34.00 target price on Versartis and gave the company a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.13.
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.
Want to see what other hedge funds are holding VSAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Versartis, Inc. (NASDAQ:VSAR).
Receive News & Ratings for Versartis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Versartis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
