Graham Capital Management L.P. Raises Stock Position in Xeris Biopharma Holdings, Inc. $XERS

Key Points

• Graham Capital Management L.P. increased its holdings in Xeris Biopharma by 89.2% in Q1, now owning 133,668 shares valued at approximately $734,000.
• Xeris Biopharma reported a net profit of ($0.01) per share for the last quarter, exceeding analyst estimates of ($0.03) per share, with revenues of $67.71 million.
• Analysts have recently upgraded Xeris Biopharma's stock rating to "strong-buy" with price targets raised, including a target of $10.00 from HC Wainwright.

Graham Capital Management L.P. grew its holdings in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Free Report) by 89.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 133,668 shares of the company's stock after purchasing an additional 63,006 shares during the quarter. Graham Capital Management L.P. owned approximately 0.09% of Xeris Biopharma worth $734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Xeris Biopharma during the 4th quarter worth $45,000. Two Sigma Advisers LP acquired a new stake in Xeris Biopharma during the 4th quarter worth $47,000. Apella Capital LLC acquired a new stake in Xeris Biopharma during the 1st quarter worth $55,000. Wealth Enhancement Advisory Services LLC boosted its stake in Xeris Biopharma by 31.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock worth $55,000 after purchasing an additional 3,847 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in Xeris Biopharma during the 1st quarter worth $57,000. Institutional investors and hedge funds own 42.75% of the company's stock.

Insider Activity at Xeris Biopharma

In related news, insider Kevin Mcculloch bought 25,000 shares of the firm's stock in a transaction on Friday, June 13th. The shares were bought at an average price of $4.38 per share, with a total value of $109,500.00. Following the completion of the transaction, the insider directly owned 1,708,585 shares of the company's stock, valued at $7,483,602.30. This represents a 1.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the company's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total transaction of $334,477.44. Following the completion of the transaction, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. The trade was a 16.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 192,232 shares of company stock worth $1,430,777. 6.47% of the stock is owned by corporate insiders.

Xeris Biopharma Trading Down 0.5%

NASDAQ XERS traded down $0.04 during trading hours on Friday, reaching $7.85. The company had a trading volume of 1,547,528 shares, compared to its average volume of 2,767,271. The stock has a 50-day moving average of $6.19 and a 200 day moving average of $5.15. Xeris Biopharma Holdings, Inc. has a 1-year low of $2.49 and a 1-year high of $8.03. The stock has a market capitalization of $1.27 billion, a P/E ratio of -37.38 and a beta of 0.13.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its 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 analyst estimates of $64.58 million. As a group, sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on XERS shares. Wall Street Zen cut shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday. Leerink Partners boosted their price target on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Finally, HC Wainwright began 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $7.08.

Xeris Biopharma Profile

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.