Renaissance Technologies LLC Cuts Stock Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Renaissance Technologies cut its Xeris Biopharma position by 26.9% in the first quarter, selling 166,800 shares and retaining 452,860 shares worth approximately $2.63 million. Institutional investors collectively own 42.75% of XERS.
• Analysts maintain a generally positive view, with four Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $10.80.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but posted an EPS loss of $0.18 versus the expected $0.01 profit. Company insiders sold 266,499 shares worth about $2.0 million over the past three months.

Renaissance Technologies LLC lessened its holdings in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 26.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 452,860 shares of the company's stock after selling 166,800 shares during the period. Renaissance Technologies LLC owned 0.26% of Xeris Biopharma worth $2,627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of XERS. Kestra Advisory Services LLC bought a new position in Xeris Biopharma in the 4th quarter worth approximately $25,000. KBC Group NV purchased a new position in shares of Xeris Biopharma in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Xeris Biopharma by 9,276.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock worth $59,000 after acquiring an additional 7,421 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Xeris Biopharma by 179.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company's stock valued at $63,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Xeris Biopharma by 29.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company's stock valued at $63,000 after acquiring an additional 1,820 shares during the last quarter. 42.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on XERS. Weiss Ratings raised shares of Xeris Biopharma from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 23rd. Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.80.

Xeris Biopharma Stock Performance

XERS stock opened at $7.93 on Monday. Xeris Biopharma Holdings, Inc. has a twelve month low of $5.25 and a twelve month high of $10.08. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -72.09 and a beta of 0.66. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 17.00. The firm's fifty day simple moving average is $7.68 and its two-hundred day simple moving average is $6.79.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $92.10 million during the quarter, compared to the consensus estimate of $90.12 million. Xeris Biopharma had a positive return on equity of 158.10% and a negative net margin of 5.12%. As a group, analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Kevin Mcculloch sold 15,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $8.02, for a total transaction of $120,300.00. Following the transaction, the insider owned 1,676,126 shares of the company's stock, valued at approximately $13,442,530.52. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $6.09, for a total value of $97,440.00. Following the completion of the sale, the director owned 126,500 shares in the company, valued at approximately $770,385. The trade was a 11.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 266,499 shares of company stock worth $1,996,417 over the last three months. 4.35% of the stock is currently owned by company insiders.

Xeris Biopharma Profile

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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