Xeris Biopharma (NASDAQ:XERS) Trading Down 4.9% After Insider Selling

by · The Markets Daily

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS – Get Free Report)’s stock price dropped 4.9% during trading on Tuesday following insider selling activity. The company traded as low as $6.69 and last traded at $6.6160. Approximately 786,837 shares were traded during trading, a decline of 68% from the average daily volume of 2,487,622 shares. The stock had previously closed at $6.96.

Specifically, insider Beth Hecht sold 16,667 shares of Xeris Biopharma stock in a transaction on Monday, December 1st. The stock was sold at an average price of $7.01, for a total value of $116,835.67. Following the transaction, the insider owned 1,320,176 shares in the company, valued at approximately $9,254,433.76. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Leerink Partners upped their price target on Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Xeris Biopharma in a research report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.58.

View Our Latest Analysis on Xeris Biopharma

Xeris Biopharma Stock Performance

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -67.19 and a beta of 0.57. The stock’s fifty day moving average is $8.13 and its two-hundred day moving average is $6.70.

Xeris Biopharma (NASDAQ:XERS – Get Free Report) last posted 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 business had revenue of $74.38 million for the quarter, compared to the consensus estimate of $74.19 million. Sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On Xeris Biopharma

Hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of Xeris Biopharma by 3.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,332 shares of the company’s stock valued at $216,000 after buying an additional 1,735 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Xeris Biopharma by 7.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 32,167 shares of the company’s stock worth $150,000 after acquiring an additional 2,264 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Xeris Biopharma by 7.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,472 shares of the company’s stock worth $254,000 after purchasing an additional 3,562 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Xeris Biopharma by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company’s stock valued at $461,000 after purchasing an additional 3,594 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in Xeris Biopharma by 0.5% during the second quarter. Federated Hermes Inc. now owns 691,381 shares of the company’s stock valued at $3,229,000 after buying an additional 3,598 shares in the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

About Xeris Biopharma

(Get Free Report)

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.

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