CenterBook Partners LP Sells 129,239 Shares of Xeris Biopharma Holdings, Inc. $XERS

Key Points

• CenterBook Partners cut its Xeris Biopharma stake by 46.1% in the third quarter, selling 129,239 shares and retaining 151,326 shares worth about $1.45 million.
• Xeris reported quarterly earnings of $0.06 per share, beating the $0.03 consensus, while revenue of $107.23 million also exceeded expectations of $101.68 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $16.20; recent targets ranged from $14 to $21.

CenterBook Partners LP lowered its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 46.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,326 shares of the company's stock after selling 129,239 shares during the quarter. CenterBook Partners LP owned about 0.08% of Xeris Biopharma worth $1,447,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in XERS. BlackRock Inc. acquired a new position in Xeris Biopharma during the second quarter valued at approximately $115,042,000. Wellington Management Group LLP lifted its stake in shares of Xeris Biopharma by 8.9% in the second quarter. Wellington Management Group LLP now owns 2,365,103 shares of the company's stock worth $18,732,000 after buying an additional 193,749 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Xeris Biopharma in the second quarter worth $15,941,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Xeris Biopharma in the second quarter worth $14,316,000. Finally, Algert Global LLC boosted its holdings in shares of Xeris Biopharma by 50.6% during the 2nd quarter. Algert Global LLC now owns 1,742,942 shares of the company's stock worth $13,804,000 after buying an additional 585,984 shares during the period. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Stock Up 4.3%

Shares of XERS stock opened at $15.86 on Tuesday. Xeris Biopharma Holdings, Inc. has a 12 month low of $5.25 and a 12 month high of $15.94. The firm has a market cap of $2.89 billion, a PE ratio of -317.14 and a beta of 0.61. The stock has a 50 day moving average of $9.77 and a 200-day moving average of $7.66. 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 (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. The company had revenue of $107.23 million during the quarter, compared to analysts' expectations of $101.68 million. On average, equities analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current year.

Insider Transactions at Xeris Biopharma

In related news, insider Steven Pieper sold 5,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $10.23, for a total value of $51,150.00. Following the transaction, the insider owned 1,346,053 shares in the company, valued at $13,770,122.19. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of Xeris Biopharma stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. Following the sale, the insider owned 1,614,208 shares of the company's stock, valued at approximately $16,142,080. This represents a 1.53% 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. Over the last three months, insiders have sold 173,332 shares of company stock worth $1,721,471. Corporate insiders own 4.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Xeris Biopharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Barclays lifted their target price on shares of Xeris Biopharma from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, October 6th. Leerink Partners boosted their target price on shares of Xeris Biopharma from $12.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, September 10th. Weiss Ratings cut shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $21.00 price target (up from $18.00) on shares of Xeris Biopharma in a research report on Friday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Xeris Biopharma has a consensus rating of "Moderate Buy" and an average price target of $16.20.

Xeris Biopharma Profile

Xeris Biopharma is a commercial-stage biopharmaceutical company focused on developing and providing treatments for people with endocrine and other serious health conditions. Its products include Gvoke, a ready-to-use glucagon product for the treatment of severe hypoglycemia, and Recorlev, a treatment for adults with endogenous hypercortisolemia associated with Cushing syndrome when surgery is not an option or has not been curative.

The company also develops drug-delivery technologies intended to make medicines easier to store and administer.

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