Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Short Interest Down 26.7% in August

Key Points

• Xeris Biopharma Holdings, Inc. experienced a 26.7% decline in short interest in August, dropping to 13,350,000 shares from 18,220,000 shares the previous month.
• Wall Street analysts have mixed reviews, with HC Wainwright initiating coverage with a "buy" rating and a target price of $10.00, while Wall Street Zen downgraded the stock to a "buy" from a "strong-buy" rating.
• Insider trading activity included significant sales by Directors, with one selling 42,500 shares at $7.28 and another selling 42,232 shares at $7.92, indicating a decrease in their holdings.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 13,350,000 shares, adeclineof26.7% from the July 31st total of 18,220,000 shares. Based on an average daily volume of 2,480,000 shares, the short-interest ratio is currently 5.4 days. Based on an average daily volume of 2,480,000 shares, the short-interest ratio is currently 5.4 days.

Wall Street Analyst Weigh In

Several research firms recently commented on XERS. HC Wainwright initiated coverage on Xeris Biopharma in a research report on Tuesday, August 12th. They set a "buy" rating and a $10.00 target price for the company. Wall Street Zen cut Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, Leerink Partners upped their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $7.08.

Xeris Biopharma Trading Down 0.5%

Shares of NASDAQ XERS opened at $7.85 on Monday. Xeris Biopharma has a 1-year low of $2.49 and a 1-year high of $8.03. The company has a 50-day moving average of $6.19 and a two-hundred day moving average of $5.15. The company has a market cap of $1.27 billion, a PE ratio of -37.38 and a beta of 0.12.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.01) earnings per share 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, equities research analysts forecast that Xeris Biopharma will post -0.41 earnings per share for the current year.

Insider Transactions at Xeris Biopharma

In other news, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $7.28, for a total value of $309,400.00. Following the completion of the transaction, the director owned 115,000 shares in the company, valued at approximately $837,200. This represents a 26.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey W. Sherman sold 42,232 shares of Xeris Biopharma 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 sale, the director owned 219,188 shares in the company, valued at approximately $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 192,232 shares of company stock valued at $1,430,777. Company insiders own 4.56% of the company's stock.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Xeris Biopharma by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company's stock valued at $172,000 after acquiring an additional 14,986 shares during the last quarter. Nuveen LLC bought a new stake in Xeris Biopharma during the 1st quarter worth about $12,240,000. Millennium Management LLC lifted its position in Xeris Biopharma by 34.8% during the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company's stock valued at $6,606,000 after purchasing an additional 502,853 shares during the period. Two Sigma Advisers LP acquired a new position in Xeris Biopharma during the 4th quarter valued at about $47,000. Finally, Raymond James Financial Inc. bought a new position in shares of Xeris Biopharma in the 4th quarter valued at about $45,000. Institutional investors own 42.75% of the company's stock.

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.

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