Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Sees Significant Growth in Short Interest

Key Points

• Xeris Biopharma experienced a 164.5% increase in short interest, reaching 19.55 million shares as of July 15th, indicating growing bearish sentiment towards the stock.
• Analysts have set a consensus price target of $6.25 for Xeris Biopharma, with ratings ranging from "hold" to "buy" from several research firms.
• Insider Kevin Mcculloch purchased 25,000 shares at an average cost of $4.38 per share, increasing his ownership and signaling confidence in the company's prospects.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 19,550,000 shares, anincreaseof164.5% from the June 30th total of 7,390,000 shares. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is currently 9.1 days. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is currently 9.1 days.

Xeris Biopharma Stock Performance

NASDAQ XERS traded up $0.18 during trading on Monday, hitting $5.56. 2,807,389 shares of the company's stock traded hands, compared to its average volume of 1,837,975. The stock has a market capitalization of $869.47 million, a price-to-earnings ratio of -18.53 and a beta of 0.65. Xeris Biopharma has a 12-month low of $2.10 and a 12-month high of $6.07. The business has a 50 day moving average of $4.86 and a 200-day moving average of $4.51.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $57.80 million during the quarter, compared to the consensus estimate of $57.61 million. On average, analysts expect that Xeris Biopharma will post -0.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on XERS. Wall Street Zen cut Xeris Biopharma from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer lifted their price objective on shares of Xeris Biopharma from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.25.

Insider Activity at Xeris Biopharma

In other news, insider Kevin Mcculloch acquired 25,000 shares of Xeris Biopharma stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $4.38 per share, with a total value of $109,500.00. Following the transaction, the insider owned 1,708,585 shares of the company's stock, valued at approximately $7,483,602.30. This trade represents a 1.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Xeris Biopharma

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in Xeris Biopharma in the 4th quarter worth about $45,000. Vanguard Group Inc. boosted its position in shares of Xeris Biopharma by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,899,063 shares of the company's stock valued at $26,778,000 after acquiring an additional 133,738 shares during the period. Prudential Financial Inc. grew its stake in Xeris Biopharma by 23.4% during the fourth quarter. Prudential Financial Inc. now owns 36,945 shares of the company's stock valued at $125,000 after acquiring an additional 7,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Xeris Biopharma by 166.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company's stock worth $3,537,000 after acquiring an additional 651,481 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Xeris Biopharma by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,351,426 shares of the company's stock worth $11,364,000 after purchasing an additional 17,956 shares in the last quarter. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

Xeris Biopharma Company 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.