Alpine Global Management LLC Trims Stock Position 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 lessened its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 37.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after selling 60,000 shares during the quarter. Alpine Global Management LLC owned approximately 0.06% of Xeris Biopharma worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Xeris Biopharma by 92.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock valued at $172,000 after buying an additional 14,986 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Xeris Biopharma in the first quarter valued at approximately $12,240,000. Millennium Management LLC lifted its holdings in Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock worth $6,606,000 after purchasing an additional 502,853 shares during the period. Two Sigma Advisers LP acquired a new stake in Xeris Biopharma in the fourth quarter worth about $47,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Xeris Biopharma in the 4th quarter worth approximately $45,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Xeris Biopharma news, Director John Johnson sold 107,500 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total value of $786,900.00. Following the sale, the director directly owned 833,483 shares of the company's stock, valued at approximately $6,101,095.56. The trade was a 11.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin Mcculloch bought 25,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was bought at an average cost of $4.38 per share, with a total value of $109,500.00. Following the transaction, the insider owned 1,708,585 shares in the company, valued at $7,483,602.30. This trade represents a 1.48% increase in their position. The disclosure for this purchase can be found here. Insiders sold 192,232 shares of company stock worth $1,430,777 in the last 90 days. Corporate insiders own 4.56% of the company's stock.

Analyst Ratings Changes

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

Xeris Biopharma Price Performance

NASDAQ XERS traded down $0.08 during mid-day trading on Wednesday, reaching $7.84. 1,669,542 shares of the stock were exchanged, compared to its average volume of 3,366,287. The stock has a market cap of $1.27 billion, a P/E ratio of -37.33 and a beta of 0.13. The stock has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $5.08. Xeris Biopharma Holdings, Inc. has a one year low of $2.48 and a one year high of $8.03.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The business had revenue of $67.71 million during the quarter, compared to analysts' expectations of $64.58 million. Sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Xeris Biopharma 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.