Bank of New York Mellon Corp Invests $3.87 Million in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Bank of New York Mellon acquired 488,441 shares of Xeris Biopharma worth approximately $3.87 million, while institutional investors collectively own 42.75% of the company.
• Analyst sentiment is mixed: Wall Street Zen downgraded the stock to “hold,” Weiss Ratings issued a “sell” rating, and Barclays raised its price target to $12 with an “overweight” rating. The consensus rating is “Hold,” with a $12 target price.
• Xeris reported quarterly revenue of $92.1 million, exceeding expectations, but its adjusted loss of $0.18 per share missed estimates. Shares recently traded at $8.53, while insiders have sold about 225,000 shares worth $1.85 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 488,441 shares of the company's stock, valued at approximately $3,868,000. Bank of New York Mellon Corp owned approximately 0.28% of Xeris Biopharma at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. State of Wyoming bought a new stake in Xeris Biopharma during the second quarter worth approximately $52,000. GSA Capital Partners LLP bought a new position in Xeris Biopharma during the 2nd quarter valued at $656,000. Walleye Capital LLC bought a new position in Xeris Biopharma during the 2nd quarter valued at $4,841,000. Bank of America Corp DE increased its position in shares of Xeris Biopharma by 21.8% during the 1st quarter. Bank of America Corp DE now owns 874,397 shares of the company's stock valued at $5,072,000 after purchasing an additional 156,483 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Xeris Biopharma by 322.8% during the 1st quarter. Janus Henderson Group PLC now owns 295,489 shares of the company's stock valued at $1,713,000 after purchasing an additional 225,602 shares during the period. Institutional investors and hedge funds own 42.75% of the company's stock.

Analyst Ratings Changes

XERS has been the subject of several research analyst reports. Wall Street Zen lowered Xeris Biopharma from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings lowered Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Barclays boosted their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Insider Transactions at Xeris Biopharma

In other news, insider Beth Hecht sold 16,666 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the sale, the insider owned 1,127,796 shares in the company, valued at $9,574,988.04. The trade was a 1.46% decrease in their ownership of the stock. 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, insider Steven Pieper sold 27,600 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $8.52, for a total transaction of $235,152.00. Following the sale, the insider owned 1,366,053 shares in the company, valued at $11,638,771.56. This represents a 1.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 224,998 shares of company stock valued at $1,847,219 over the last ninety days. Corporate insiders own 4.35% of the company's stock.

Xeris Biopharma Trading Down 0.7%

Shares of NASDAQ XERS opened at $8.53 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 12 month low of $5.25 and a 12 month high of $10.08. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -77.55 and a beta of 0.70. The business has a fifty day simple moving average of $8.41 and a 200-day simple moving average of $6.98.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued 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). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The company had revenue of $92.10 million during the quarter, compared to analysts' expectations of $90.12 million. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Xeris Biopharma 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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