Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Holdings Increased by Knott David M Jr

Key Points

• Knott David M Jr increased his stake in Xeris Biopharma Holdings, Inc. by 11.0%, making it his 7th largest position as of the latest SEC filing.
• Analysts are optimistic about Xeris Biopharma, with an average rating of "Buy" and a price target increase from $6.00 to $7.00 from Oppenheimer.
• Insider Kevin McCulloch purchased 25,000 shares, increasing his ownership to approximately $7.48 million following this acquisition.

Knott David M Jr lifted its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,110,000 shares of the company's stock after purchasing an additional 110,000 shares during the quarter. Xeris Biopharma accounts for about 2.9% of Knott David M Jr's holdings, making the stock its 7th largest position. Knott David M Jr owned about 0.71% of Xeris Biopharma worth $6,094,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. NewEdge Advisors LLC bought a new position in Xeris Biopharma in the 4th quarter worth about $34,000. Apella Capital LLC purchased a new stake in Xeris Biopharma in the 1st quarter worth approximately $55,000. Xponance Inc. purchased a new stake in Xeris Biopharma in the 1st quarter worth approximately $57,000. FNY Investment Advisers LLC purchased a new stake in Xeris Biopharma in the 1st quarter worth approximately $63,000. Finally, Raymond James Financial Inc. purchased a new stake in Xeris Biopharma in the 4th quarter worth approximately $45,000. 42.75% of the stock is currently owned by institutional investors.

Xeris Biopharma Stock Down 0.3%

Shares of NASDAQ:XERS traded down $0.03 during trading on Wednesday, hitting $7.28. The stock had a trading volume of 2,666,141 shares, compared to its average volume of 3,009,622. Xeris Biopharma Holdings, Inc. has a 12 month low of $2.39 and a 12 month high of $7.61. The company has a market capitalization of $1.17 billion, a PE ratio of -34.64 and a beta of 0.65. The firm's fifty day moving average is $5.11 and its 200 day moving average is $4.65.

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

Insider Buying and Selling

In related news, insider Kevin Mcculloch acquired 25,000 shares of Xeris Biopharma stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $4.38 per share, with a total value of $109,500.00. Following the transaction, the insider directly owned 1,708,585 shares in the company, valued at approximately $7,483,602.30. This represents a 1.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dawn Halkuff sold 42,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the transaction, the director directly owned 115,000 shares of the company's stock, valued at approximately $837,200. This trade represents a 26.98% decrease in their position. The disclosure for this sale can be found here. 6.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Oppenheimer increased their price objective on Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. HC Wainwright upgraded Xeris Biopharma to a "buy" rating and set a $10.00 price objective for the company in a report on Tuesday. Finally, Wall Street Zen upgraded Xeris Biopharma from a "hold" rating to a "strong-buy" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $6.58.

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.