JPMorgan Chase & Co. Has $7.37 Million Stock Position in Xeris Biopharma Holdings, Inc. $XERS

JPMorgan Chase & Co. lessened its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) by 12.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 905,076 shares of the company’s stock after selling 127,186 shares during the period. JPMorgan Chase & Co.’s holdings in Xeris Biopharma were worth $7,367,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. AlphaQuest LLC bought a new position in Xeris Biopharma in the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its stake 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 in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Xeris Biopharma in the 3rd quarter valued at approximately $68,000. Tower Research Capital LLC TRC boosted its holdings in shares of 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 during the last quarter. Finally, Modern Wealth Management LLC bought a new position in shares of Xeris Biopharma in the second quarter valued at $83,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Kevin Mcculloch sold 15,000 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $8.00, for a total value of $120,000.00. Following the transaction, the insider directly owned 1,685,426 shares of the company’s stock, valued at $13,483,408. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Patrick Shannon, Jr. sold 24,907 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.08, for a total transaction of $176,341.56. Following the sale, the insider owned 2,705,346 shares of the company’s stock, valued at approximately $19,153,849.68. This represents a 0.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 89,908 shares of company stock valued at $648,515 over the last ninety days. 4.56% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on XERS. Weiss Ratings upgraded shares of Xeris Biopharma from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of Xeris Biopharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Barclays initiated coverage on shares of Xeris Biopharma in a research note on Monday, December 8th. They set an “overweight” rating and a $9.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Xeris Biopharma in a report on Monday, March 2nd. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.80.

Xeris Biopharma Stock Up 3.7%

XERS stock opened at $5.60 on Tuesday. Xeris Biopharma Holdings, Inc. has a 1-year low of $3.81 and a 1-year high of $10.08. The business’s 50 day simple moving average is $6.45 and its 200 day simple moving average is $7.33. The company has a current ratio of 2.19, a quick ratio of 1.57 and a debt-to-equity ratio of 16.10. The firm has a market capitalization of $965.61 million, a PE ratio of -559.44 and a beta of 0.61.

Xeris Biopharma (NASDAQ:XERS) last announced its quarterly earnings results on Monday, March 2nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Xeris Biopharma had a negative return on equity of 5.33% and a net margin of 0.19%.The business had revenue of $85.81 million during the quarter, compared to the consensus estimate of $86.00 million. As a group, research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Xeris Biopharma Company Profile

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.