Xeris Biopharma (NASDAQ:XERS) Insider Sells $127,350.00 in Stock

Key Points

• Insider sale: Kevin Mcculloch sold 15,000 Xeris Biopharma shares for $127,350 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 0.91% to 1,639,208 shares. He also sold shares in July and August.
• Recent performance: Xeris shares closed at $8.43, near their 50-day average of $8.32 and above their 200-day average of $6.93. The company reported quarterly revenue of $92.1 million but missed earnings expectations with a loss of $0.18 per share.
• Analyst outlook: Ratings are mixed, resulting in a consensus “Hold” rating and a $12.00 average price target; Barclays raised its target to $12 and maintained an “overweight” rating.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) insider Kevin Mcculloch sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $8.49, for a total transaction of $127,350.00. Following the sale, the insider directly owned 1,639,208 shares of the company's stock, valued at approximately $13,916,875.92. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kevin Mcculloch also recently made the following trade(s):

• On Monday, August 3rd, Kevin Mcculloch sold 15,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.02, for a total transaction of $120,300.00.
• On Wednesday, July 1st, Kevin Mcculloch sold 90,000 shares of Xeris Biopharma stock. The stock was sold at an average price of $8.03, for a total value of $722,700.00.

Xeris Biopharma Stock Down 0.1%

Xeris Biopharma stock traded down $0.01 during trading on Tuesday, hitting $8.43. 1,144,088 shares of the company were exchanged, compared to its average volume of 1,849,041. 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 company has a market capitalization of $1.54 billion, a P/E ratio of -76.64 and a beta of 0.66. Xeris Biopharma Holdings, Inc. has a 52 week low of $5.25 and a 52 week high of $10.08. The business's 50 day moving average is $8.32 and its 200 day moving average is $6.93.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly 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). Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. The company had revenue of $92.10 million for the quarter, compared to the consensus estimate of $90.12 million. Analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

XERS has been the topic of a number of research analyst reports. Wall Street Zen cut Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Xeris Biopharma from a "hold (c-)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Barclays lifted their price target on shares of Xeris Biopharma from $9.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.00.

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in Xeris Biopharma by 1,411.2% in the 1st quarter. Royal Bank of Canada now owns 213,084 shares of the company's stock worth $1,170,000 after purchasing an additional 198,984 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Xeris Biopharma by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 83,982 shares of the company's stock worth $461,000 after acquiring an additional 3,594 shares during the last quarter. Millennium Management LLC boosted its position in Xeris Biopharma by 19.0% in the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company's stock valued at $12,726,000 after buying an additional 369,420 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Xeris Biopharma by 75.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company's stock worth $15,317,000 after buying an additional 1,199,435 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of Xeris Biopharma in the 1st quarter valued at $170,000. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

About Xeris Biopharma

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.

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