Wellington Management Group LLP Acquires 193,749 Shares of Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Wellington Management increased its Xeris Biopharma stake by 8.9% in the second quarter, adding 193,749 shares to hold 2.37 million shares worth approximately $18.7 million. Institutional investors collectively own 42.75% of the company.
• Analyst sentiment is mixed: Barclays raised its price target to $12 and maintained an overweight rating, while Weiss Ratings downgraded the stock to sell and Wall Street Zen cut its rating to hold. The overall consensus is Hold with a $12 target price.
• Xeris reported quarterly revenue of $92.1 million, exceeding estimates, but its adjusted loss of $0.18 per share missed expectations by $0.19. Meanwhile, insiders have sold 224,998 shares worth about $1.85 million over the past 90 days.

Wellington Management Group LLP lifted its holdings in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 8.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,365,103 shares of the company's stock after buying an additional 193,749 shares during the period. Wellington Management Group LLP owned about 1.30% of Xeris Biopharma worth $18,732,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of XERS. Kestra Advisory Services LLC acquired a new stake in Xeris Biopharma in the fourth quarter valued at about $25,000. KBC Group NV acquired a new position in Xeris Biopharma during the first quarter worth about $27,000. Allworth Financial LP bought a new position in shares of Xeris Biopharma in the second quarter worth about $34,000. State of Wyoming bought a new position in shares of Xeris Biopharma in the second quarter worth about $52,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Xeris Biopharma by 9,276.3% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 42.75% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on XERS shares. Weiss Ratings lowered shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a report on Tuesday, August 11th. Barclays raised their target price on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, August 20th. Finally, Wall Street Zen downgraded shares of Xeris Biopharma from a "buy" rating to a "hold" rating in a report on Saturday. Three equities 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 stock. According to data from MarketBeat.com, Xeris Biopharma presently has an average rating of "Hold" and a consensus target price of $12.00.

Xeris Biopharma Stock Performance

Xeris Biopharma stock opened at $8.53 on Monday. The business has a 50 day moving average of $8.41 and a 200-day moving average of $6.98. The company has a market capitalization of $1.56 billion, a P/E ratio of -77.55 and a beta of 0.70. Xeris Biopharma Holdings, Inc. has a 1 year low of $5.25 and a 1 year high of $10.08. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02.

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 the consensus estimate of $0.01 by ($0.19). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. On average, equities research analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In other news, insider Beth Hecht sold 16,666 shares of Xeris Biopharma stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $8.49, for a total transaction of $141,494.34. Following the transaction, the insider owned 1,127,796 shares in the company, valued at approximately $9,574,988.04. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the business's 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 completion of the sale, the insider directly owned 1,366,053 shares in the company, valued at approximately $11,638,771.56. This represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 224,998 shares of company stock worth $1,847,219. Company insiders own 4.35% of the company's stock.

About Xeris Biopharma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.