Informed Momentum Co LLC Boosts Holdings in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)

Key Points

• Informed Momentum Co LLC significantly increased its stake in Xeris Biopharma by 320.3%, now holding 934,646 shares valued at approximately $5.13 million, making it the fund's 8th largest holding.
• Xeris Biopharma was upgraded to a "strong-buy" rating by Wall Street Zen, and the stock has seen an increase in analyst confidence, with a consensus target price of $6.25.
• On Tuesday, Xeris Biopharma's stock showed a 5.3% increase trading at $7.20, marking a significant leap from its 52-week low of $2.21.

Informed Momentum Co LLC increased its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 320.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 934,646 shares of the company's stock after buying an additional 712,269 shares during the period. Xeris Biopharma comprises about 0.9% of Informed Momentum Co LLC's holdings, making the stock its 8th biggest position. Informed Momentum Co LLC owned about 0.60% of Xeris Biopharma worth $5,131,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in XERS. Wealth Enhancement Advisory Services LLC increased its stake in shares of Xeris Biopharma by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock worth $172,000 after purchasing an additional 14,986 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Xeris Biopharma by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company's stock valued at $26,778,000 after acquiring an additional 133,738 shares during the period. Raymond James Financial Inc. bought a new position in shares of Xeris Biopharma in the fourth quarter valued at approximately $45,000. Millennium Management LLC boosted its position in shares of Xeris Biopharma by 34.8% in the fourth quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after acquiring an additional 502,853 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Xeris Biopharma by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company's stock valued at $11,364,000 after acquiring an additional 17,956 shares during the period. Hedge funds and other institutional investors own 42.75% of the company's stock.

Xeris Biopharma Stock Performance

Shares of NASDAQ XERS traded down $0.03 during mid-day trading on Wednesday, hitting $7.28. The stock had a trading volume of 2,666,141 shares, compared to its average volume of 3,009,622. Xeris Biopharma Holdings, Inc. has a 1 year low of $2.39 and a 1 year high of $7.61. The business has a 50 day moving average price of $5.11 and a two-hundred day moving average price of $4.65. The firm has a market cap of $1.17 billion, a P/E ratio of -34.64 and a beta of 0.65.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million for the quarter, compared to analysts' expectations of $64.58 million. Equities research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Oppenheimer raised their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, HC Wainwright upgraded shares of Xeris Biopharma to a "buy" rating and set a $10.00 price objective for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $6.58.

Insiders Place Their Bets

In other news, insider Kevin Mcculloch purchased 25,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average price of $4.38 per share, for a total transaction of $109,500.00. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawn Halkuff sold 42,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total transaction of $309,400.00. Following the completion of the transaction, the director owned 115,000 shares in the company, valued at approximately $837,200. The trade was a 26.98% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.47% of the company's stock.

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.