Wellington Management Group LLP Has $2.15 Million Stock Holdings in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Wellington Management Group LLP has decreased its stake in Xeris Biopharma Holdings, Inc. by 15.7%, owning 392,099 shares valued at approximately $2.15 million as of their latest SEC filing.
• Xeris Biopharma's stock opened at $7.83, and the company reported better-than-expected quarterly earnings with a revenue of $67.71 million, surpassing analyst estimates.
• Analysts have upgraded Xeris Biopharma's rating from "hold" to "strong-buy," with several firms raising their price target, indicating a positive outlook for the stock.

Wellington Management Group LLP reduced its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 392,099 shares of the company's stock after selling 73,013 shares during the quarter. Wellington Management Group LLP owned approximately 0.25% of Xeris Biopharma worth $2,153,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock valued at $44,522,000 after purchasing an additional 210,581 shares during the period. Nuveen LLC acquired a new stake in shares of Xeris Biopharma in the 1st quarter valued at $12,240,000. Millennium Management LLC boosted its stake in shares of Xeris Biopharma by 34.8% in the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after purchasing an additional 502,853 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Xeris Biopharma by 13.6% in the 4th quarter. Nuveen Asset Management LLC now owns 1,903,442 shares of the company's stock valued at $6,453,000 after purchasing an additional 228,380 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Xeris Biopharma by 38.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,363,452 shares of the company's stock valued at $4,622,000 after purchasing an additional 378,437 shares in the last quarter. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Xeris Biopharma Stock Performance

NASDAQ:XERS traded up $0.05 on Thursday, hitting $7.89. 727,414 shares of the stock were exchanged, compared to its average volume of 2,533,156. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -37.55 and a beta of 0.13. Xeris Biopharma Holdings, Inc. has a 52 week low of $2.48 and a 52 week high of $8.03. The company's 50-day moving average price is $6.06 and its 200 day moving average price is $5.08.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The company had revenue of $67.71 million during the quarter, compared to the consensus estimate of $64.58 million. As a group, equities research analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Wall Street Zen upgraded shares of Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Leerink Partners upped their price target on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, HC Wainwright assumed coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.08.

Insider Buying and Selling

In other news, Director John Johnson sold 107,500 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total value of $786,900.00. Following the completion of the sale, the director directly owned 833,483 shares of the company's stock, valued at $6,101,095.56. This represents a 11.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kevin Mcculloch purchased 25,000 shares of the stock in a transaction dated Friday, June 13th. The stock was bought at an average cost of $4.38 per share, with a total value of $109,500.00. Following the completion of the purchase, the insider owned 1,708,585 shares in the company, valued at $7,483,602.30. The trade was a 1.48% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 192,232 shares of company stock valued at $1,430,777. Insiders own 4.56% of the company's stock.

About Xeris Biopharma

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.