Jacobs Levy Equity Management Inc. Invests $1.40 Million 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. acquired a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 255,560 shares of the company's stock, valued at approximately $1,403,000. Jacobs Levy Equity Management Inc. owned 0.16% of Xeris Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in Xeris Biopharma by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock valued at $172,000 after purchasing an additional 14,986 shares during the period. Nuveen LLC acquired a new position in Xeris Biopharma in the first quarter valued at $12,240,000. Millennium Management LLC increased its stake in 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 purchasing an additional 502,853 shares during the period. Two Sigma Advisers LP acquired a new position in Xeris Biopharma in the fourth quarter valued at $47,000. Finally, Raymond James Financial Inc. acquired a new position in Xeris Biopharma in the fourth quarter valued at $45,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at Xeris Biopharma

In related news, Director Marla Persky sold 15,500 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $7.72, for a total value of $119,660.00. Following the sale, the director directly owned 142,000 shares of the company's stock, valued at approximately $1,096,240. This represents a 9.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the firm's stock in a transaction dated 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 owned 219,188 shares of the company's stock, valued at $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 207,732 shares of company stock worth $1,550,437 over the last ninety days. 6.47% of the stock is currently owned by company insiders.

Xeris Biopharma Stock Performance

XERS traded down $0.19 on Friday, hitting $7.49. 1,679,574 shares of the company were exchanged, compared to its average volume of 1,923,455. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $8.03. The firm has a market capitalization of $1.21 billion, a P/E ratio of -35.66 and a beta of 0.13. The business's fifty day moving average is $6.49 and its 200 day moving average is $5.28.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The firm had revenue of $67.71 million for the quarter, compared to analysts' expectations of $64.58 million. Analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

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.