Driehaus Capital Management LLC Grows Stock Holdings in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Driehaus Capital Management LLC significantly increased its stake in Xeris Biopharma Holdings, Inc. by 137.6% during the first quarter, acquiring a total of 1,411,540 shares worth approximately $7.75 million.
• The company's stock opened at $7.83 on Friday, with a current market capitalization of $1.26 billion and a fifty-two week range from $2.48 to $8.02.
• Xeris Biopharma's recent earnings report exceeded analysts' expectations, reporting a revenue of $67.71 million for the quarter, signaling potential growth opportunities for investors.

Driehaus Capital Management LLC lifted its stake in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 137.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,411,540 shares of the company's stock after purchasing an additional 817,525 shares during the quarter. Driehaus Capital Management LLC owned 0.90% of Xeris Biopharma worth $7,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Xeris Biopharma in the 4th quarter valued at approximately $34,000. Raymond James Financial Inc. bought a new stake in shares of Xeris Biopharma in the fourth quarter worth $45,000. Two Sigma Advisers LP acquired a new stake in Xeris Biopharma in the fourth quarter valued at $47,000. Aquatic Capital Management LLC bought a new position in shares of Xeris Biopharma during the fourth quarter worth about $50,000. Finally, Apella Capital LLC acquired a new stake in Xeris Biopharma during the 1st quarter valued at approximately $55,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Xeris Biopharma

In related news, Director John Johnson sold 107,500 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $7.32, for a total transaction of $786,900.00. Following the sale, the director directly owned 833,483 shares of the company's stock, valued at approximately $6,101,095.56. This represents a 11.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value of $334,477.44. Following the sale, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,232 shares of company stock worth $1,430,777 in the last 90 days. 4.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Xeris Biopharma Trading Up 0.3%

Shares of XERS traded up $0.03 on Thursday, reaching $7.87. 827,978 shares of the company's stock traded hands, compared to its average volume of 2,533,904. The stock's 50 day simple moving average is $6.06 and its two-hundred day simple moving average is $5.08. The stock has a market cap of $1.27 billion, a PE ratio of -37.45 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.

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

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.