Deutsche Bank AG Acquires Shares of 529,443 Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Deutsche Bank acquired 529,443 shares of Xeris Biopharma during the second quarter, worth approximately $4.2 million and representing about 0.31% of the company. Institutional investors collectively own 42.75% of Xeris.
• Analyst views remain mixed: Barclays raised its price target to $12 and assigned an overweight rating, while other firms issued buy, hold, and sell ratings. The stock has a consensus rating of “Hold” and a $12 price target.
• 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. Insiders have sold 271,499 shares worth about $2.04 million over the past three months.

Deutsche Bank AG bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 529,443 shares of the company's stock, valued at approximately $4,193,000. Deutsche Bank AG owned approximately 0.31% of Xeris Biopharma as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in Xeris Biopharma during the 4th quarter valued at about $25,000. KBC Group NV bought a new stake in Xeris Biopharma during the first quarter worth about $27,000. State of Wyoming bought a new stake in Xeris Biopharma during the second quarter worth about $52,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Xeris Biopharma by 9,276.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock worth $59,000 after buying an additional 7,421 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company's stock worth $63,000 after buying an additional 1,820 shares in the last quarter. Institutional investors own 42.75% of the company's stock.

Analysts Set New Price Targets

XERS has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings lowered Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Finally, Barclays raised 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. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $12.00.

Xeris Biopharma Price Performance

Shares of XERS stock opened at $8.74 on Wednesday. Xeris Biopharma Holdings, Inc. has a 1 year low of $5.25 and a 1 year 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. The firm's 50 day moving average is $8.19 and its 200-day moving average is $6.89. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -79.45 and a beta of 0.66.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The company had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. Sell-side analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director John Johnson sold 15,000 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $6.09, for a total transaction of $91,350.00. Following the completion of the sale, the director owned 683,083 shares in the company, valued at $4,159,975.47. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 15,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $8.02, for a total value of $120,300.00. Following the transaction, the insider directly owned 1,676,126 shares in the company, valued at $13,442,530.52. This trade represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 271,499 shares of company stock worth $2,038,917. 4.35% of the stock is currently owned by company insiders.

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.

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