Jacobs Levy Equity Management Inc. Takes $1.40 Million Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Jacobs Levy Equity Management Inc. acquired 255,560 shares of Xeris Biopharma Holdings, Inc., valued at approximately $1.4 million, establishing a new position in the company.
• Institutional investors hold 42.75% of Xeris Biopharma's stock, with notable activities in the first quarter including Nuveen LLC acquiring a $12.24 million stake.
• Xeris Biopharma's stock has a current market cap of $1.24 billion, with shares priced at $7.68—showing a significant increase from a one-year low of $2.69.

Jacobs Levy Equity Management Inc. bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 255,560 shares of the company's stock, valued at approximately $1,403,000. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Xeris Biopharma as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XERS. Raymond James Financial Inc. acquired a new stake in Xeris Biopharma in the fourth quarter valued at approximately $45,000. Two Sigma Advisers LP purchased a new stake in Xeris Biopharma during the 4th quarter worth $47,000. Apella Capital LLC acquired a new position in Xeris Biopharma in the 1st quarter worth $55,000. Wealth Enhancement Advisory Services LLC boosted its position in Xeris Biopharma by 31.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock valued at $55,000 after buying an additional 3,847 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Xeris Biopharma during the first quarter worth about $57,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Stock Performance

Shares of Xeris Biopharma stock traded up $0.20 during trading hours on Wednesday, reaching $7.67. The company's stock had a trading volume of 1,645,821 shares, compared to its average volume of 1,727,501. Xeris Biopharma Holdings, Inc. has a one year low of $2.69 and a one year high of $8.03. The company's 50 day simple moving average is $6.64 and its 200 day simple moving average is $5.35. The stock has a market cap of $1.24 billion, a P/E ratio of -36.52 and a beta of 0.13.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $64.58 million. On average, sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Xeris Biopharma news, Director John Johnson sold 107,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total value of $786,900.00. Following the sale, the director directly owned 833,483 shares of the company's stock, valued at $6,101,095.56. This trade represents a 11.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey W. Sherman sold 42,232 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the transaction, the director directly owned 219,188 shares of the company's stock, valued at approximately $1,735,968.96. This trade represents a 16.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 207,732 shares of company stock valued at $1,550,437 over the last quarter. Company insiders own 6.47% of the company's stock.

Wall Street Analyst Weigh In

XERS has been the subject of a number of analyst reports. Leerink Partners raised their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Finally, HC Wainwright initiated coverage on shares of Xeris Biopharma in a report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Xeris Biopharma has a consensus rating of "Moderate Buy" and an average price target of $7.08.

About Xeris Biopharma

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.