Squarepoint Ops LLC Has $2.90 Million Holdings in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Squarepoint Ops LLC cut its Xeris Biopharma stake by 40.5% in the second quarter, selling 248,819 shares and retaining 365,731 shares worth approximately $2.90 million. Institutional investors collectively own 42.75% of Xeris.
• Analyst sentiment is mixed: Barclays and Leerink Partners raised their price targets to $12 and $16, respectively, while Wall Street Zen downgraded the stock to “hold” and Weiss Ratings to “sell.” The consensus rating is “Hold,” with an average target price of $12.80.
• Xeris reported quarterly revenue of $92.10 million, exceeding estimates, but posted an adjusted loss of $0.18 per share versus expectations for a $0.01 profit. Insiders have sold 224,998 shares worth about $1.85 million over the past 90 days.

Squarepoint Ops LLC trimmed its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 40.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 365,731 shares of the company's stock after selling 248,819 shares during the period. Squarepoint Ops LLC owned about 0.20% of Xeris Biopharma worth $2,897,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new stake in shares of Xeris Biopharma in the 4th quarter valued at about $25,000. KBC Group NV acquired a new stake in Xeris Biopharma in the 1st quarter valued at approximately $27,000. Allworth Financial LP bought a new stake in Xeris Biopharma in the 2nd quarter valued at approximately $34,000. State of Wyoming acquired a new position in Xeris Biopharma during the 2nd quarter worth approximately $52,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Xeris Biopharma by 9,276.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock valued at $59,000 after purchasing an additional 7,421 shares during the last quarter. 42.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on XERS shares. Wall Street Zen lowered shares of Xeris Biopharma from a "buy" rating to a "hold" rating in a research note on Saturday, September 5th. Weiss Ratings downgraded Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Barclays upped their price objective on Xeris Biopharma from $9.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, August 20th. Finally, Leerink Partners raised their target price on shares of Xeris Biopharma from $12.00 to $16.00 and gave the company an "outperform" rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Xeris Biopharma currently has a consensus rating of "Hold" and an average target price of $12.80.

Insider Buying and Selling

In other news, insider Steven Pieper sold 5,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.50, for a total transaction of $42,500.00. Following the completion of the sale, the insider directly owned 1,356,053 shares in the company, valued at $11,526,450.50. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Beth Hecht sold 16,666 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total value of $141,494.34. Following the sale, the insider owned 1,127,796 shares of the company's stock, valued at approximately $9,574,988.04. The trade was a 1.46% 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 have sold a total of 224,998 shares of company stock valued at $1,847,219 over the last 90 days. 4.35% of the stock is owned by insiders.

Xeris Biopharma Stock Performance

XERS opened at $7.45 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.45 and a debt-to-equity ratio of 17.00. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -67.73 and a beta of 0.70. The company has a 50-day simple moving average of $8.40 and a 200 day simple moving average of $7.02. Xeris Biopharma Holdings, Inc. has a twelve month low of $5.25 and a twelve month high of $10.08.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.19). The company 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 338.21% and a negative net margin of 5.12%. Analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

About Xeris Biopharma

Xeris Biopharma Holdings, Inc NASDAQ: XERS is a specialty pharmaceutical company focused on developing and commercializing therapies using proprietary formulation and drug-delivery technologies. Its platforms, including XeriSol and XeriJect, are designed to enable liquid or ready-to-use formulations of medicines that may otherwise require refrigeration, reconstitution, or administration by a healthcare professional.

The company's commercial products include Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia; Keveyis (dichlorphenamide), an oral therapy for primary periodic paralysis; and Recorlev (levoketoconazole), an oral treatment for endogenous hypercortisolemia in adults with Cushing's syndrome.

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