Walleye Capital LLC Invests $4.84 Million in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Walleye Capital acquired 611,296 Xeris Biopharma shares valued at approximately $4.84 million, representing 0.35% of the company. Institutional investors collectively own 42.75% of Xeris.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but posted an adjusted loss of $0.18 per share versus analysts’ expected $0.01 profit.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $10.80; insiders have sold 271,499 shares worth about $2.04 million over the past three months.

Walleye Capital LLC acquired a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 611,296 shares of the company's stock, valued at approximately $4,841,000. Walleye Capital LLC owned 0.35% of Xeris Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in Xeris Biopharma by 21.8% during the 1st quarter. Bank of America Corp DE now owns 874,397 shares of the company's stock worth $5,072,000 after buying an additional 156,483 shares in the last quarter. Janus Henderson Group PLC boosted its position in Xeris Biopharma by 322.8% in the 1st quarter. Janus Henderson Group PLC now owns 295,489 shares of the company's stock valued at $1,713,000 after buying an additional 225,602 shares during the period. California State Teachers Retirement System grew its stake in shares of Xeris Biopharma by 19.3% in the first quarter. California State Teachers Retirement System now owns 180,339 shares of the company's stock worth $1,046,000 after acquiring an additional 29,168 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Xeris Biopharma by 12.9% in the first quarter. Royal Bank of Canada now owns 43,610 shares of the company's stock worth $253,000 after acquiring an additional 4,974 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Xeris Biopharma by 59.0% during the first quarter. The Manufacturers Life Insurance Company now owns 72,804 shares of the company's stock worth $422,000 after acquiring an additional 27,003 shares during the period. Institutional investors and hedge funds own 42.75% of the company's stock.

Xeris Biopharma Price Performance

Shares of NASDAQ XERS opened at $8.60 on Friday. The stock's 50-day simple moving average is $7.91 and its 200-day simple moving average is $6.83. The firm has a market capitalization of $1.57 billion, a PE ratio of -78.18 and a beta of 0.66. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $10.08. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.50 and a current ratio of 1.45.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.19). The company had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. As a group, equities research analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insider Transactions at Xeris Biopharma

In related news, insider Beth Hecht sold 16,667 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $6.06, for a total value of $101,002.02. Following the transaction, the insider directly owned 1,176,506 shares of the company's stock, valued at $7,129,626.36. This trade represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 27,600 shares of Xeris Biopharma stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $8.52, for a total transaction of $235,152.00. Following the sale, the insider owned 1,366,053 shares in the company, valued at $11,638,771.56. This represents a 1.98% 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. Over the last three months, insiders sold 271,499 shares of company stock worth $2,038,917. Insiders own 4.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings cut Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday. Wall Street Zen cut Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Xeris Biopharma has a consensus rating of "Hold" and an average target price of $10.80.

Xeris Biopharma Company 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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