Corient Private Wealth LP Invests $1.46 Million in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Corient Private Wealth initiated a $1.46 million position in Xeris Biopharma, purchasing 184,126 shares, while institutional investors collectively owned 42.75% of the company.
• Xeris shares opened at $8.59, near the recent average trading levels, after the company reported quarterly revenue of $92.1 million but an adjusted loss of $0.18 per share that missed analyst expectations.
• Analyst sentiment remains mixed: Barclays raised its price target to $12 and maintained an overweight rating, while other firms issued downgrades; the consensus rating is Hold with a $12 price target.

Corient Private Wealth LP bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 184,126 shares of the company's stock, valued at approximately $1,458,000. Corient Private Wealth LP owned 0.10% of Xeris Biopharma at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Xeris Biopharma in the second quarter worth approximately $115,042,000. Legal & General Group Plc bought a new stake in shares of Xeris Biopharma during the second quarter valued at approximately $15,941,000. Parkman Healthcare Partners LLC acquired a new position in shares of Xeris Biopharma during the second quarter worth approximately $14,316,000. UBS Group AG raised its position in shares of Xeris Biopharma by 682.4% during the third quarter. UBS Group AG now owns 1,782,734 shares of the company's stock worth $14,511,000 after purchasing an additional 1,554,869 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Xeris Biopharma in the 2nd quarter worth $11,065,000. 42.75% of the stock is owned by institutional investors.

Xeris Biopharma Trading Up 0.1%

Shares of Xeris Biopharma stock opened at $8.59 on Friday. The company has a market capitalization of $1.57 billion, a P/E ratio of -78.09 and a beta of 0.70. The stock has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $6.97. Xeris Biopharma Holdings, Inc. has a 12-month low of $5.25 and a 12-month high of $10.08. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued 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 the consensus estimate of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. On average, sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, insider Kevin McCulloch sold 15,000 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $127,350.00. Following the transaction, the insider directly owned 1,639,208 shares of the company's stock, valued at $13,916,875.92. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the firm's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 224,998 shares of company stock worth $1,847,219 over the last quarter. Insiders own 4.35% of the company's stock.

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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