Connor Clark & Lunn Investment Management Ltd. Takes $1.01 Million Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Connor Clark & Lunn Investment Management acquired 127,107 Xeris Biopharma shares worth approximately $1.01 million, giving it a 0.07% stake. Institutional investors collectively own 42.75% of the company, with several major funds increasing their positions.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but posted an adjusted loss of $0.18 per share versus the expected $0.01 profit. Analysts’ consensus rating is “Hold,” with a $12.00 target price compared with the stock’s recent price near $8.48.
• Company insiders sold 254,832 shares worth approximately $1.94 million during the latest quarter, though the reported transactions were made under pre-arranged Rule 10b5-1 trading plans. Insiders retain a 4.35% ownership stake.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 127,107 shares of the company's stock, valued at approximately $1,007,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Xeris Biopharma at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in XERS. Royal Bank of Canada grew its holdings in Xeris Biopharma by 1,411.2% during the 1st quarter. Royal Bank of Canada now owns 213,084 shares of the company's stock valued at $1,170,000 after purchasing an additional 198,984 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Xeris Biopharma by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company's stock worth $461,000 after buying an additional 3,594 shares in the last quarter. Millennium Management LLC lifted its holdings in Xeris Biopharma by 19.0% in the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock worth $12,726,000 after buying an additional 369,420 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Xeris Biopharma by 75.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock valued at $15,317,000 after buying an additional 1,199,435 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in shares of Xeris Biopharma during the first quarter valued at about $170,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $97,440.00. Following the transaction, the director owned 126,500 shares of the company's stock, valued at approximately $770,385. This trade represents a 11.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 15,000 shares of Xeris Biopharma stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $8.02, for a total value of $120,300.00. Following the completion of the transaction, the insider owned 1,676,126 shares of the company's stock, valued at $13,442,530.52. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 254,832 shares of company stock worth $1,937,915. Company insiders own 4.35% of the company's stock.

Xeris Biopharma Stock Performance

XERS opened at $8.48 on Monday. Xeris Biopharma Holdings, Inc. has a 12-month low of $5.25 and a 12-month high of $10.08. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. The stock has a market capitalization of $1.55 billion, a PE ratio of -77.09 and a beta of 0.66. The firm's fifty day moving average price is $8.29 and its 200 day moving average price is $6.93.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19). The company had revenue of $92.10 million for 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, research analysts expect that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

XERS has been the topic of a number of analyst reports. Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays increased their price target on Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Finally, Weiss Ratings lowered Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.00.

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.

Want to see what other hedge funds are holding XERS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source