Quarry LP Invests $388,000 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 purchased a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 70,751 shares of the company's stock, valued at approximately $388,000.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Xeris Biopharma during the 4th quarter worth approximately $34,000. Apella Capital LLC acquired a new position in Xeris Biopharma during the 1st quarter worth approximately $55,000. Xponance Inc. acquired a new position in Xeris Biopharma during the 1st quarter worth approximately $57,000. FORA Capital LLC acquired a new position in Xeris Biopharma during the 1st quarter worth approximately $60,000. Finally, FNY Investment Advisers LLC bought a new stake in Xeris Biopharma during the 1st quarter worth approximately $63,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Xeris Biopharma

In other news, insider Kevin Mcculloch acquired 25,000 shares of Xeris Biopharma stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the acquisition, the insider owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,232 shares of company stock valued at $1,430,777 in the last three months. 6.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Leerink Partners increased their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. Oppenheimer increased their price objective on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. HC Wainwright assumed coverage on Xeris Biopharma in a research note on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Wall Street Zen downgraded Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday. Five 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.08.

Xeris Biopharma Trading Down 0.5%

Shares of XERS stock traded down $0.04 during trading on Friday, hitting $7.85. The company's stock had a trading volume of 1,547,528 shares, compared to its average volume of 2,767,271. The company has a market cap of $1.27 billion, a PE ratio of -37.38 and a beta of 0.13. The business has a fifty day moving average of $6.19 and a 200-day moving average of $5.14. Xeris Biopharma Holdings, Inc. has a 52 week low of $2.49 and a 52 week 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 business had revenue of $67.71 million during the quarter, compared to the consensus estimate of $64.58 million. As a group, research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Xeris Biopharma Company 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.