14,525,539 Shares in Xeris Biopharma Holdings, Inc. $XERS Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 14.5 million Xeris Biopharma shares valued at approximately $115 million, giving it an 8.41% stake. Institutional investors collectively own 42.75% of the company.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but posted an adjusted loss of $0.18 per share versus the expected $0.01 profit. Insiders have sold 271,499 shares worth about $2.04 million over the past 90 days.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $12 price target; Barclays raised its target to $12 and maintained an “overweight” rating, while other analysts downgraded the stock.

BlackRock Inc. acquired a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,525,539 shares of the company's stock, valued at approximately $115,042,000. BlackRock Inc. owned 8.41% of Xeris Biopharma as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of XERS. Cetera Investment Advisers grew its position 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 worth $216,000 after buying an additional 1,735 shares in the last quarter. Royal Bank of Canada lifted its stake in Xeris Biopharma by 6.5% in the fourth quarter. Royal Bank of Canada now owns 38,636 shares of the company's stock worth $304,000 after acquiring an additional 2,351 shares during the period. AlphaCentric Advisors LLC lifted its stake in Xeris Biopharma by 5.7% in the first quarter. AlphaCentric Advisors LLC now owns 45,886 shares of the company's stock worth $266,000 after acquiring an additional 2,494 shares during the period. Kestra Advisory Services LLC bought a new position in Xeris Biopharma during the 4th quarter worth about $25,000. Finally, ProShare Advisors LLC grew its holdings in Xeris Biopharma by 10.6% during the 4th quarter. ProShare Advisors LLC now owns 35,390 shares of the company's stock worth $278,000 after acquiring an additional 3,383 shares in the last quarter. 42.75% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Steven Pieper sold 5,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $8.50, for a total transaction of $42,500.00. Following the completion of the sale, the insider owned 1,361,053 shares in the company, valued at approximately $11,568,950.50. This represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 15,000 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $8.02, for a total value of $120,300.00. Following the completion of the sale, the insider directly owned 1,676,126 shares of the company's stock, valued at $13,442,530.52. The trade was a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 271,499 shares of company stock worth $2,038,917. Company insiders own 4.35% of the company's stock.

Xeris Biopharma Stock Performance

XERS stock opened at $8.48 on Friday. Xeris Biopharma Holdings, Inc. has a one year low of $5.25 and a one year high of $10.08. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -77.09 and a beta of 0.66. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45. The firm has a 50-day simple moving average of $8.29 and a two-hundred day simple moving average of $6.93.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $92.10 million for the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. On average, equities analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on XERS shares. Wall Street Zen lowered shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Barclays increased their price objective on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, August 20th. Finally, Weiss Ratings lowered shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $12.00.

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.

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