Insider Selling: Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Director Sells 42,500 Shares of Stock

Key Points

• Xeris Biopharma Director Dawn Halkuff sold 42,500 shares of stock at an average price of $7.28, resulting in a transaction totaling $309,400 and a 26.98% decrease in the director's ownership.
• The company's shares traded down 0.3% to $7.28, with a market capitalization of $1.17 billion and a price-to-earnings ratio of -34.64.
• Analyst ratings for Xeris Biopharma have improved, with Oppenheimer raising their price target from $6.00 to $7.00, and several firms assigning a buy or strong buy rating.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) Director Dawn Halkuff sold 42,500 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total transaction of $309,400.00. Following the sale, the director directly owned 115,000 shares in the company, valued at $837,200. This represents a 26.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Xeris Biopharma Trading Down 0.3%

Shares of XERS traded down $0.03 during mid-day trading on Wednesday, hitting $7.28. 2,666,141 shares of the company traded hands, compared to its average volume of 2,573,243. Xeris Biopharma Holdings, Inc. has a one year low of $2.39 and a one year high of $7.61. The business has a 50-day moving average of $5.05 and a 200 day moving average of $4.64. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -34.64 and a beta of 0.65.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. The business had revenue of $67.71 million during the quarter, compared to the consensus estimate of $64.58 million. As a group, analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Xeris Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Xeris Biopharma by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,109,644 shares of the company's stock valued at $44,522,000 after acquiring an additional 210,581 shares during the last quarter. Geode Capital Management LLC raised its holdings in Xeris Biopharma by 7.2% in the second quarter. Geode Capital Management LLC now owns 3,650,688 shares of the company's stock worth $17,052,000 after purchasing an additional 244,862 shares during the period. Goldman Sachs Group Inc. raised its holdings in Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock worth $15,317,000 after purchasing an additional 1,199,435 shares during the period. Millennium Management LLC raised its holdings in Xeris Biopharma by 19.0% in the first quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock worth $12,726,000 after purchasing an additional 369,420 shares during the period. Finally, Nuveen LLC acquired a new stake in Xeris Biopharma in the first quarter worth $12,240,000. 42.75% of the stock is owned by institutional investors.

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.

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