Alpine Global Management LLC Cuts Stock Holdings in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Alpine Global Management LLC reduced its stake in Xeris Biopharma by 37.5%, owning 100,000 shares valued at approximately $549,000 after selling 60,000 shares.
• Multiple hedge funds, including NewEdge Advisors LLC and Apella Capital LLC, recently established new positions in Xeris Biopharma, indicating increased institutional interest in the company.
• Xeris Biopharma received a "strong-buy" rating from Wall Street analysts, with target prices ranging from $7.00 to $10.00, reflecting the company's positive earnings report surpassing expectations.

Alpine Global Management LLC reduced its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company's stock after selling 60,000 shares during the period. Alpine Global Management LLC owned 0.06% of Xeris Biopharma worth $549,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in XERS. Quarry LP bought a new position in shares of Xeris Biopharma during the first quarter valued at about $388,000. Driehaus Capital Management LLC boosted its stake in shares of Xeris Biopharma by 137.6% during the 1st quarter. Driehaus Capital Management LLC now owns 1,411,540 shares of the company's stock worth $7,749,000 after purchasing an additional 817,525 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in Xeris Biopharma in the 1st quarter valued at about $86,000. Ieq Capital LLC raised its stake in shares of Xeris Biopharma by 129.2% during the 1st quarter. Ieq Capital LLC now owns 155,184 shares of the company's stock worth $852,000 after acquiring an additional 87,469 shares in the last quarter. Finally, FORA Capital LLC purchased a new stake in Xeris Biopharma during the 1st quarter worth approximately $60,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on XERS. HC Wainwright assumed coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price objective for the company. Leerink Partners increased their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Oppenheimer lifted their price objective on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Xeris Biopharma has a consensus rating of "Moderate Buy" and an average target price of $7.08.

Xeris Biopharma Stock Performance

Xeris Biopharma stock traded down $0.12 during trading hours on Friday, hitting $7.78. The company had a trading volume of 824,572 shares, compared to its average volume of 2,527,132. The company has a 50-day moving average price of $6.13 and a two-hundred day moving average price of $5.11. The firm has a market cap of $1.26 billion, a P/E ratio of -37.07 and a beta of 0.13. Xeris Biopharma Holdings, Inc. has a 1 year low of $2.49 and a 1 year high of $8.03.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. As a group, equities research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director John Johnson sold 107,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total transaction of $786,900.00. Following the sale, the director owned 833,483 shares of the company's stock, valued at $6,101,095.56. This represents a 11.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total value of $309,400.00. Following the sale, the director owned 115,000 shares of the company's stock, valued at approximately $837,200. The trade was a 26.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,232 shares of company stock valued at $1,430,777 in the last 90 days. Insiders own 6.47% of the company's stock.

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.