PDT Partners LLC Takes Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• PDT Partners LLC acquired 239,600 shares of Xeris Biopharma Holdings, Inc., valued at approximately $1.3 million, representing about 0.15% of the company.
• Wall Street analysts are optimistic about Xeris Biopharma, with five analysts rating the stock as a Buy and a target price averaging $7.08.
• Insider activity included significant sales of shares by directors Jeffrey W. Sherman and John Johnson, indicating a 16.15% and 11.42% decrease in their respective holdings.

PDT Partners LLC acquired a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 239,600 shares of the company's stock, valued at approximately $1,315,000. PDT Partners LLC owned about 0.15% of Xeris Biopharma at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in Xeris Biopharma in the 1st quarter valued at about $4,456,000. Royal Bank of Canada lifted its holdings in shares of Xeris Biopharma by 1,411.2% during the 1st quarter. Royal Bank of Canada now owns 213,084 shares of the company's stock worth $1,170,000 after acquiring an additional 198,984 shares during the period. Graham Capital Management L.P. lifted its holdings in shares of Xeris Biopharma by 89.2% during the 1st quarter. Graham Capital Management L.P. now owns 133,668 shares of the company's stock worth $734,000 after acquiring an additional 63,006 shares during the period. Quarry LP bought a new stake in shares of Xeris Biopharma during the 1st quarter worth approximately $388,000. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Xeris Biopharma by 137.6% during the 1st quarter. Driehaus Capital Management LLC now owns 1,411,540 shares of the company's stock worth $7,749,000 after acquiring an additional 817,525 shares during the period. 42.75% of the stock is owned by institutional investors.

Xeris Biopharma Stock Down 0.1%

Shares of XERS stock traded down $0.01 during trading hours on Monday, hitting $7.85. 315,403 shares of the company's stock traded hands, compared to its average volume of 2,518,436. The stock's 50 day simple moving average is $6.19 and its 200 day simple moving average is $5.15. The stock has a market cap of $1.27 billion, a PE ratio of -37.36 and a beta of 0.12. Xeris Biopharma Holdings, Inc. has a 12 month low of $2.51 and a 12 month high of $8.03.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The firm had revenue of $67.71 million during the quarter, compared to analyst estimates of $64.58 million. As a group, equities research analysts expect that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Xeris Biopharma news, Director John Johnson sold 107,500 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total transaction of $786,900.00. Following the completion of the sale, the director directly owned 833,483 shares in the company, valued at approximately $6,101,095.56. This trade represents a 11.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawn Halkuff sold 42,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total transaction of $309,400.00. Following the sale, the director directly owned 115,000 shares of the company's stock, valued at approximately $837,200. This trade represents a 26.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,232 shares of company stock valued at $1,430,777. 4.56% of the stock is currently owned by insiders.

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.