Xeris Biopharma Holdings, Inc. $XERS Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management cut its Xeris Biopharma stake by 24.6% in the first quarter, selling 301,550 shares and leaving it with 921,854 shares worth about $5.35 million.
• Analyst sentiment improved slightly after Weiss Ratings upgraded Xeris from “sell” to “hold,” while MarketBeat data shows an overall Moderate Buy consensus with a $10.80 average price target.
• Insiders have also been selling, including director Barbara-Jean A. Bormann-Kennedy and insider Steven Pieper; in total, insiders sold 251,500 shares worth $1.85 million over the last three months.

Granahan Investment Management LLC lowered its stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 24.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 921,854 shares of the company's stock after selling 301,550 shares during the period. Granahan Investment Management LLC owned approximately 0.53% of Xeris Biopharma worth $5,347,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of XERS. Kestra Advisory Services LLC bought a new stake in shares of Xeris Biopharma during the 4th quarter worth $25,000. KBC Group NV acquired a new stake in shares of Xeris Biopharma during the first quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of Xeris Biopharma by 9,276.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company's stock worth $59,000 after purchasing an additional 7,421 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company's stock valued at $63,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Xeris Biopharma by 179.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company's stock valued at $63,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 42.75% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Xeris Biopharma from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Xeris Biopharma currently has an average rating of "Moderate Buy" and an average target price of $10.80.

Insider Activity

In other Xeris Biopharma news, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of Xeris Biopharma stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $97,440.00. Following the completion of the sale, the director owned 126,500 shares of the company's stock, valued at $770,385. This trade represents a 11.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $8.52, for a total transaction of $235,152.00. Following the sale, the insider directly owned 1,366,053 shares of the company's stock, valued at $11,638,771.56. This trade represents a 1.98% decrease in their position. 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. In the last three months, insiders sold 251,500 shares of company stock worth $1,846,457. Corporate insiders own 4.35% of the company's stock.

Xeris Biopharma Price Performance

Shares of NASDAQ:XERS opened at $8.32 on Friday. The company's fifty day moving average is $7.30 and its two-hundred day moving average is $6.76. The company has a market cap of $1.44 billion, a P/E ratio of 138.67 and a beta of 0.62. Xeris Biopharma Holdings, Inc. has a 12-month low of $4.87 and a 12-month high of $10.08. The company has a quick ratio of 1.50, a current ratio of 2.12 and a debt-to-equity ratio of 17.00.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.01 EPS for the quarter. The business had revenue of $83.13 million during the quarter, compared to analysts' expectations of $79.83 million. Xeris Biopharma had a return on equity of 735.00% and a net margin of 3.81%. Equities analysts expect that Xeris Biopharma Holdings, Inc. will post 0.12 earnings per share for the current fiscal year.

Xeris Biopharma 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.

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.