Cubist Systematic Strategies LLC Invests $4.46 Million in Xeris Biopharma Holdings, Inc. $XERS

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 shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Xeris Biopharma by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock valued at $44,522,000 after purchasing an additional 210,581 shares during the period. Nuveen LLC bought a new stake in Xeris Biopharma during the first quarter valued at about $12,240,000. Millennium Management LLC grew its holdings in Xeris Biopharma by 34.8% during the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after purchasing an additional 502,853 shares during the period. Nuveen Asset Management LLC grew its holdings in Xeris Biopharma by 13.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,903,442 shares of the company's stock valued at $6,453,000 after purchasing an additional 228,380 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in Xeris Biopharma by 137.6% during the first quarter. Driehaus Capital Management LLC now owns 1,411,540 shares of the company's stock valued at $7,749,000 after purchasing an additional 817,525 shares during the period. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Price Performance

Shares of NASDAQ:XERS traded down $0.08 during trading on Tuesday, hitting $7.70. The company had a trading volume of 1,366,596 shares, compared to its average volume of 2,516,342. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -36.64 and a beta of 0.12. Xeris Biopharma Holdings, Inc. has a one year low of $2.60 and a one year high of $8.03. The company has a fifty day simple moving average of $6.25 and a two-hundred day simple moving average of $5.18.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued 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 business had revenue of $67.71 million during the quarter, compared to analysts' expectations of $64.58 million. On average, equities research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on XERS shares. Leerink Partners boosted their price target on 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 Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Friday. Finally, HC Wainwright assumed coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Xeris Biopharma has a consensus rating of "Moderate Buy" and a consensus target price of $7.08.

Insider Transactions at Xeris Biopharma

In other news, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $7.92, for a total value of $334,477.44. Following the transaction, the director directly owned 219,188 shares in the company, valued at approximately $1,735,968.96. This trade 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 hyperlink. Also, insider Kevin Mcculloch purchased 25,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was bought at an average price of $4.38 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the insider directly owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 192,232 shares of company stock valued at $1,430,777. Company insiders own 4.56% of the company's stock.

Xeris Biopharma Company 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.