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) saw a significant drop in short interest during the month of August. As of August 15th, there was short interest totaling 13,350,000 shares, a drop of 26.7% from the July 31st total of 18,220,000 shares. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is presently 5.4 days. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is presently 5.4 days.

Xeris Biopharma Trading Down 2.5%

Shares of NASDAQ:XERS traded down $0.19 during trading on Friday, hitting $7.49. 1,679,574 shares of the stock were exchanged, compared to its average volume of 1,923,455. The company has a fifty day moving average price of $6.49 and a two-hundred day moving average price of $5.27. The company has a market cap of $1.21 billion, a PE ratio of -35.66 and a beta of 0.13. Xeris Biopharma has a 12-month low of $2.69 and a 12-month high of $8.03.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its earnings results 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 company had revenue of $67.71 million during the quarter, compared to analysts' expectations of $64.58 million. Equities research analysts anticipate that Xeris Biopharma will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright assumed coverage on Xeris Biopharma in a report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price objective on the stock. Leerink Partners lifted their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen lowered Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $7.08.

Insider Transactions at Xeris Biopharma

In related news, Director Jeffrey W. Sherman sold 42,232 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $7.92, for a total transaction of $334,477.44. Following the transaction, the director owned 219,188 shares of the company's stock, valued at $1,735,968.96. This trade represents a 16.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Johnson sold 107,500 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $7.32, for a total value of $786,900.00. Following the transaction, the director directly owned 833,483 shares in the company, valued at approximately $6,101,095.56. This represents a 11.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,732 shares of company stock worth $1,550,437. 6.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in shares of Xeris Biopharma by 3.9% during the second quarter. Cetera Investment Advisers now owns 46,332 shares of the company's stock worth $216,000 after purchasing an additional 1,735 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Xeris Biopharma by 7.6% during the second quarter. China Universal Asset Management Co. Ltd. now owns 32,167 shares of the company's stock worth $150,000 after purchasing an additional 2,264 shares during the last quarter. R Squared Ltd lifted its position in shares of Xeris Biopharma by 27.7% during the first quarter. R Squared Ltd now owns 15,730 shares of the company's stock worth $86,000 after purchasing an additional 3,410 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Xeris Biopharma by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,388 shares of the company's stock worth $273,000 after purchasing an additional 3,447 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Xeris Biopharma by 7.0% during the second quarter. The Manufacturers Life Insurance Company now owns 54,472 shares of the company's stock worth $254,000 after purchasing an additional 3,562 shares during the last quarter. Hedge funds and other institutional investors own 42.75% of the company's stock.

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.