Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Shares Purchased by Essex Investment Management Co. LLC

Key Points

• Essex Investment Management Co. LLC increased its stake in Xeris Biopharma Holdings, Inc. by 53.8%, owning approximately 730,444 shares worth $4.01 million as of its recent SEC filing.
• Xeris Biopharma reported a quarterly revenue of $57.8 million, surpassing analysts' expectations, with an earnings per share (EPS) of -($0.06).
• Two equities research analysts rated Xeris Biopharma with a "hold" rating, while five analysts issued a "buy" rating, giving it a consensus rating of "Moderate Buy" and an average target price of $6.25.

Essex Investment Management Co. LLC increased its position in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 53.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 730,444 shares of the company's stock after acquiring an additional 255,489 shares during the period. Essex Investment Management Co. LLC owned approximately 0.47% of Xeris Biopharma worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in Xeris Biopharma by 9.4% in the 1st quarter. Mackenzie Financial Corp now owns 142,104 shares of the company's stock worth $780,000 after acquiring an additional 12,152 shares during the last quarter. Cetera Investment Advisers purchased a new position in Xeris Biopharma in the 1st quarter worth $245,000. Legato Capital Management LLC raised its stake in Xeris Biopharma by 52.9% in the 1st quarter. Legato Capital Management LLC now owns 217,318 shares of the company's stock worth $1,193,000 after acquiring an additional 75,154 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Xeris Biopharma in the 1st quarter worth $244,000. Finally, Apollon Wealth Management LLC raised its stake in Xeris Biopharma by 19.8% in the 1st quarter. Apollon Wealth Management LLC now owns 24,160 shares of the company's stock worth $133,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 42.75% of the company's stock.

Xeris Biopharma Stock Up 4.6%

Shares of NASDAQ:XERS traded up $0.24 during trading on Friday, reaching $5.33. 1,734,047 shares of the company's stock traded hands, compared to its average volume of 2,413,720. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.10 and a fifty-two week high of $6.07. The firm has a market cap of $832.72 million, a PE ratio of -17.75 and a beta of 0.66. The company has a 50-day simple moving average of $4.83 and a 200-day simple moving average of $4.46.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $57.80 million for the quarter, compared to analyst estimates of $57.61 million. On average, equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Transactions at Xeris Biopharma

In other news, insider Kevin Mcculloch acquired 25,000 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the acquisition, the insider owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This represents a 1.48% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.47% of the company's stock.

Analyst Upgrades and Downgrades

XERS has been the subject of a number of research analyst reports. Oppenheimer raised their target price on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Wall Street Zen downgraded Xeris Biopharma from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.25.

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.