Man Group plc Buys Shares of 455,380 Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Man Group plc initiated a position in Xeris Biopharma, purchasing 455,380 shares valued at approximately $3.6 million, or about 0.25% of the company. Institutional investors collectively own 42.75% of Xeris.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but posted an adjusted loss of $0.18 per share versus expectations for a $0.01 profit. Analysts maintain a consensus “Hold” rating with a $12 price target.
• XERS opened at $8.44 and has traded between $5.25 and $10.08 over the past year. Insiders have sold 254,832 shares worth approximately $1.94 million in the last 90 days.

Man Group plc purchased a new position in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 455,380 shares of the company's stock, valued at approximately $3,607,000. Man Group plc owned about 0.25% of Xeris Biopharma at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jupiter Topco LLC bought a new stake in shares of Xeris Biopharma during the 2nd quarter worth $3,287,000. Hsbc Holdings PLC bought a new position in Xeris Biopharma in the second quarter valued at $330,000. Canada Pension Plan Investment Board purchased a new stake in Xeris Biopharma during the second quarter valued at about $1,736,000. Parkman Healthcare Partners LLC purchased a new stake in Xeris Biopharma during the second quarter valued at about $14,316,000. Finally, Legal & General Group Plc purchased a new stake in Xeris Biopharma during the second quarter valued at about $15,941,000. Hedge funds and other institutional investors own 42.75% of the company's stock.

Xeris Biopharma Price Performance

XERS stock opened at $8.44 on Tuesday. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45. The firm has a 50 day moving average price of $8.32 and a 200-day moving average price of $6.93. Xeris Biopharma Holdings, Inc. has a 52-week low of $5.25 and a 52-week high of $10.08. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -76.73 and a beta of 0.66.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Finally, Barclays upped their price target on shares of 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Xeris Biopharma currently has an average rating of "Hold" and a consensus target price of $12.00.

Insider Transactions at Xeris Biopharma

In related news, insider Steven Pieper sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $8.50, for a total value of $42,500.00. Following the transaction, the insider owned 1,361,053 shares in the company, valued at $11,568,950.50. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Johnson sold 15,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $91,350.00. Following the sale, the director directly owned 683,083 shares in the company, valued at $4,159,975.47. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 254,832 shares of company stock valued at $1,937,915. 4.35% of the stock is currently owned by corporate insiders.

About Xeris Biopharma

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.

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