Xeris Biopharma Holdings, Inc. $XERS Stake Raised by Profund Advisors LLC

Key Points

• Profund Advisors increased its Xeris Biopharma stake by 519.2% in the third quarter, bringing its holdings to 202,547 shares valued at approximately $1.94 million. Institutional investors collectively own 42.75% of the company.
• Xeris reported quarterly revenue of $92.1 million, ahead of estimates, but posted an adjusted loss of $0.18 per share versus expectations for $0.01 in earnings. The stock opened at $10.71, near its 52-week high of $11.41.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $13.20; Leerink Partners and Barclays recently raised their targets to $16 and $14, respectively.

Profund Advisors LLC raised its holdings in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 519.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,547 shares of the company's stock after acquiring an additional 169,836 shares during the quarter. Profund Advisors LLC owned 0.11% of Xeris Biopharma worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in XERS. Vise Technologies Inc. acquired a new stake in shares of Xeris Biopharma in the third quarter worth $107,000. State of Wyoming grew its holdings in shares of Xeris Biopharma by 624.6% during the third quarter. State of Wyoming now owns 47,503 shares of the company's stock valued at $454,000 after buying an additional 40,947 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Xeris Biopharma by 30.1% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 14,700 shares of the company's stock valued at $141,000 after buying an additional 3,400 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Xeris Biopharma by 7.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 33,266 shares of the company's stock valued at $332,000 after buying an additional 2,190 shares during the period. Finally, William Mack & Associates Inc. acquired a new position in Xeris Biopharma during the third quarter valued at $53,000. Institutional investors own 42.75% of the company's stock.

Xeris Biopharma Price Performance

XERS opened at $10.71 on Monday. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -97.36 and a beta of 0.53. Xeris Biopharma Holdings, Inc. has a 1 year low of $5.25 and a 1 year high of $11.41. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. The stock has a fifty day moving average price of $9.31 and a 200 day moving average price of $7.51.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.19). The firm had revenue of $92.10 million during the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%. Analysts forecast that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Xeris Biopharma news, insider Kevin McCulloch sold 25,000 shares of Xeris Biopharma stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, the insider directly owned 1,614,208 shares in the company, valued at $16,142,080. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Pieper sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.41, for a total transaction of $47,050.00. Following the completion of the sale, the insider directly owned 1,351,053 shares of the company's stock, valued at $12,713,408.73. This represents a 0.37% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 103,332 shares of company stock worth $948,871. Insiders own 4.35% of the company's stock.

Analysts Set New Price Targets

XERS has been the subject of a number of research reports. Leerink Partners raised their price objective on Xeris Biopharma from $12.00 to $16.00 and gave the stock an "outperform" rating in a research report on Thursday, September 10th. Barclays raised their price target on shares of Xeris Biopharma from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Tuesday, October 6th. Wall Street Zen raised shares of Xeris Biopharma from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Finally, Weiss Ratings downgraded shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.20.

About Xeris Biopharma

Xeris Biopharma, Inc is a specialty pharmaceutical company focused on developing and commercializing therapies for patients with endocrinology, gastroenterology and other serious or chronic conditions. The company uses proprietary formulation and delivery technologies designed to make complex therapies more stable, convenient and suitable for self-administration.

Xeris' commercial portfolio includes Gvoke, a ready-to-use glucagon injection for the treatment of severe hypoglycemia in adults and children with diabetes; Recorlev (levoketoconazole), an oral therapy for endogenous hypercortisolemia associated with endogenous Cushing's syndrome; and Keveyis (dichlorphenamide), a treatment for primary periodic paralysis.

Want to see what other hedge funds are holding XERS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report).

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.