Xeris Biopharma (NASDAQ:XERS) Insider Sells $176,341.56 in Stock

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) insider John Patrick Shannon, Jr. sold 24,907 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $7.08, for a total value of $176,341.56. Following the transaction, the insider owned 2,705,346 shares in the company, valued at approximately $19,153,849.68. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Xeris Biopharma Stock Performance

Xeris Biopharma stock traded down $0.13 during midday trading on Tuesday, hitting $6.96. 2,295,839 shares of the company’s stock were exchanged, compared to its average volume of 2,949,023. The firm has a 50-day moving average of $7.52 and a two-hundred day moving average of $7.12. The company has a market cap of $1.15 billion, a PE ratio of -69.59 and a beta of 0.50. Xeris Biopharma Holdings, Inc. has a 12 month low of $3.14 and a 12 month high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $74.38 million during the quarter, compared to analyst estimates of $74.19 million. As a group, equities analysts expect that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

XERS has been the subject of a number of recent analyst reports. Zacks Research cut shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen lowered Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler lifted their target price on Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xeris Biopharma in a research report on Wednesday, October 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Xeris Biopharma in a report on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

Hedge Funds Weigh In On Xeris Biopharma

Hedge funds have recently bought and sold shares of the business. AlphaQuest LLC purchased a new stake in shares of Xeris Biopharma in the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Xeris Biopharma by 179.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock worth $63,000 after purchasing an additional 5,000 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Xeris Biopharma during the 3rd quarter worth about $68,000. Tower Research Capital LLC TRC lifted its stake in Xeris Biopharma by 913.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock valued at $81,000 after buying an additional 15,678 shares in the last quarter. Finally, Modern Wealth Management LLC acquired a new position in shares of Xeris Biopharma during the second quarter valued at approximately $83,000. Hedge funds and other institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.