Quarry LP Buys New Shares in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Quarry LP has invested approximately $388,000 in Xeris Biopharma Holdings by purchasing 70,751 shares during the first quarter.
• Research analysts have given Xeris Biopharma an average rating of "Moderate Buy" with a consensus price target of $7.08.
• Insider transactions revealed that Director Jeffrey W. Sherman sold 42,232 shares, while insider Kevin McCullough purchased 25,000 shares of the company's stock.

Quarry LP acquired a new stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 70,751 shares of the company's stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XERS. Nuveen LLC purchased a new position in Xeris Biopharma during the first quarter valued at approximately $12,240,000. Invesco Ltd. grew its position in Xeris Biopharma by 1,387.8% in the first quarter. Invesco Ltd. now owns 1,026,838 shares of the company's stock worth $5,637,000 after acquiring an additional 957,822 shares in the last quarter. Driehaus Capital Management LLC grew its position in Xeris Biopharma by 137.6% in the first 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 in the last quarter. Informed Momentum Co LLC grew its position in Xeris Biopharma by 320.3% in the first quarter. Informed Momentum Co LLC now owns 934,646 shares of the company's stock worth $5,131,000 after acquiring an additional 712,269 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in Xeris Biopharma in the first quarter worth approximately $3,798,000. 42.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

XERS has been the subject of several recent research reports. Oppenheimer boosted their target price on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. HC Wainwright initiated coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 target price for the company. Wall Street Zen raised shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Leerink Partners boosted their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.08.

Insider Activity

In related news, Director John Johnson sold 107,500 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $7.32, for a total transaction of $786,900.00. Following the completion of the transaction, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. This represents a 11.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawn Halkuff sold 42,500 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total transaction of $309,400.00. Following the transaction, the director owned 115,000 shares of the company's stock, valued at approximately $837,200. The trade was a 26.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 192,232 shares of company stock valued at $1,430,777 over the last three months. Corporate insiders own 4.56% of the company's stock.

Xeris Biopharma Stock Performance

Shares of Xeris Biopharma stock traded down $0.08 on Wednesday, reaching $7.84. The stock had a trading volume of 1,669,542 shares, compared to its average volume of 3,366,287. The business's 50-day moving average price is $6.06 and its two-hundred day moving average price is $5.08. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $2.48 and a fifty-two week high of $8.03. The stock has a market cap of $1.27 billion, a P/E ratio of -37.33 and a beta of 0.13.

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 for the quarter, topping analysts' consensus estimates 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 analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share 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.