811,607 Shares in Xeris Biopharma Holdings, Inc. $XERS Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has acquired 811,607 shares of Xeris Biopharma Holdings, Inc., valued at approximately $4,456,000, increasing its ownership to about 0.52% of the company.
• Analyst ratings for Xeris Biopharma have been positive, with several upgrades, including a move from a "hold" to a "strong-buy" rating and price targets raised to as high as $10.00.
• Xeris Biopharma reported earnings that exceeded expectations, with revenue of $67.71 million for the quarter, outpacing analysts' expectations of $64.58 million.

Cubist Systematic Strategies LLC purchased a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 811,607 shares of the company's stock, valued at approximately $4,456,000. Cubist Systematic Strategies LLC owned 0.52% of Xeris Biopharma at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Apella Capital LLC acquired a new position in Xeris Biopharma in the 1st quarter valued at $55,000. Xponance Inc. bought a new position in shares of Xeris Biopharma in the first quarter worth $57,000. FORA Capital LLC acquired a new position in Xeris Biopharma in the first quarter valued at about $60,000. FNY Investment Advisers LLC acquired a new position in Xeris Biopharma in the first quarter valued at about $63,000. Finally, Raymond James Financial Inc. bought a new stake in Xeris Biopharma during the fourth quarter worth about $45,000. Institutional investors own 42.75% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Leerink Partners raised their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Wall Street Zen cut shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, HC Wainwright started coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $7.08.

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, Director Jeffrey W. Sherman sold 42,232 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value of $334,477.44. Following the completion of the transaction, the director directly owned 219,188 shares in the company, valued at approximately $1,735,968.96. This represents a 16.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kevin Mcculloch purchased 25,000 shares of the company's stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $4.38 per share, with a total value of $109,500.00. Following the purchase, the insider directly owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. The trade was a 1.48% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 192,232 shares of company stock valued at $1,430,777. 6.47% of the stock is owned by insiders.

Xeris Biopharma Trading Up 1.7%

XERS traded up $0.13 on Wednesday, reaching $7.81. The stock had a trading volume of 1,193,348 shares, compared to its average volume of 2,017,068. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -37.19 and a beta of 0.13. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.66 and a fifty-two week high of $8.03. The firm has a 50-day moving average of $6.37 and a 200-day moving average of $5.22.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $67.71 million for the quarter, compared to the consensus estimate of $64.58 million. Sell-side analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Xeris Biopharma Profile

Xeris Biopharma Holdings, Inc, a biopharmaceutical company, engages in developing and commercializing therapies in Illinois. The company offers Gvoke, a ready-to-use liquid-stable glucagon for the treatment of severe hypoglycemia pediatric and adult patients; Keveyis, a therapy for the treatment of hyperkalemic, hypokalemic, and related variants of primary periodic paralysis; and Recorlev, a cortisol synthesis inhibitor proved for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome.