Xeris Biopharma (NASDAQ:XERS) Shares Down 4.9% – Here’s Why

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) were down 4.9% during mid-day trading on Tuesday . The stock traded as low as $6.69 and last traded at $6.6160. Approximately 786,837 shares changed hands during trading, a decline of 68% from the average daily volume of 2,487,622 shares. The stock had previously closed at $6.96.

Analysts Set New Price Targets

A number of research firms have commented on XERS. Oppenheimer restated an “outperform” rating and issued a $18.00 target price on shares of Xeris Biopharma in a research report on Friday, November 7th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Xeris Biopharma in a research report on Friday, November 7th. Zacks Research lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Piper Sandler upped their target price on shares of Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Xeris Biopharma presently has an average rating of “Moderate Buy” and a consensus price target of $9.58.

Xeris Biopharma Price Performance

The company has a market capitalization of $1.08 billion, a PE ratio of -65.54 and a beta of 0.58. The stock’s 50 day simple moving average is $8.21 and its 200-day simple moving average is $6.69.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The company had revenue of $74.38 million for the quarter, compared to analysts’ expectations of $74.19 million. On average, equities analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Marla Persky sold 15,500 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $7.72, for a total transaction of $119,660.00. Following the sale, the director owned 142,000 shares of the company’s stock, valued at approximately $1,096,240. This represents a 9.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Beth Hecht sold 16,667 shares of Xeris Biopharma stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $7.40, for a total value of $123,335.80. Following the completion of the transaction, the insider owned 1,336,843 shares of the company’s stock, valued at approximately $9,892,638.20. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,409 shares of company stock worth $416,381 over the last 90 days. Corporate insiders own 4.56% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in XERS. AQR Capital Management LLC grew its holdings in Xeris Biopharma by 13.4% during the 1st quarter. AQR Capital Management LLC now owns 946,766 shares of the company’s stock worth $5,198,000 after acquiring an additional 111,826 shares in the last quarter. Nuveen LLC acquired a new position in shares of Xeris Biopharma during the first quarter worth $12,240,000. Savvy Advisors Inc. acquired a new position in shares of Xeris Biopharma during the second quarter worth $189,000. Fred Alger Management LLC purchased a new position in Xeris Biopharma in the first quarter valued at $736,000. Finally, Vanguard Group Inc. raised its stake in Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company’s stock valued at $44,522,000 after buying an additional 210,581 shares in the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Company Profile

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.