Bank of America Corp DE Increases Stake in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Bank of America increased its Xeris Biopharma stake by 21.8% in the first quarter, owning 874,397 shares valued at approximately $5.1 million. Institutional investors collectively hold 42.75% of XERS.
• Analyst sentiment is mixed: Barclays raised its price target to $12 and maintained an overweight rating, while other firms issued buy, hold, and sell views. The consensus rating is “Hold,” with a $12 average price target.
• Xeris reported quarterly revenue of $92.1 million, ahead of estimates, but missed earnings expectations with a loss of $0.18 per share versus the projected $0.01 profit. The stock opened at $8.60, compared with a 52-week range of $5.25 to $10.08.

Bank of America Corp DE increased its stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 21.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,397 shares of the company's stock after purchasing an additional 156,483 shares during the period. Bank of America Corp DE owned 0.51% of Xeris Biopharma worth $5,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of XERS. Kestra Advisory Services LLC acquired a new position in shares of Xeris Biopharma in the 4th quarter valued at $25,000. KBC Group NV acquired a new stake in Xeris Biopharma during the 1st quarter worth about $27,000. Caitong International Asset Management Co. Ltd lifted its position in Xeris Biopharma by 9,276.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock worth $59,000 after acquiring an additional 7,421 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Xeris Biopharma by 179.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company's stock valued at $63,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Truvestments Capital LLC grew its stake in Xeris Biopharma by 96.1% during the 4th quarter. Truvestments Capital LLC now owns 8,118 shares of the company's stock valued at $64,000 after purchasing an additional 3,979 shares during the last quarter. Institutional investors and hedge funds own 42.75% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Xeris Biopharma

In related news, insider Kevin Mcculloch sold 15,000 shares of Xeris Biopharma stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $8.02, for a total value of $120,300.00. Following the sale, the insider owned 1,676,126 shares of the company's stock, valued at approximately $13,442,530.52. This trade represents a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Johnson sold 15,000 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $91,350.00. Following the transaction, the director directly owned 683,083 shares in the company, valued at approximately $4,159,975.47. The trade was a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 271,499 shares of company stock worth $2,038,917 in the last ninety days. Company insiders own 4.35% of the company's stock.

Xeris Biopharma Price Performance

NASDAQ:XERS opened at $8.60 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. Xeris Biopharma Holdings, Inc. has a 52 week low of $5.25 and a 52 week high of $10.08. The stock's 50-day moving average price is $8.26 and its 200-day moving average price is $6.92. The stock has a market capitalization of $1.57 billion, a PE ratio of -78.18 and a beta of 0.66.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.19). The business had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. As a group, equities analysts expect that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal 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.

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