Xeris Biopharma (NASDAQ:XERS) Sees Large Volume Increase - What's Next?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) saw strong trading volume on Monday . 1,789,449 shares traded hands during mid-day trading, a decline of 33% from the previous session's volume of 2,676,402 shares.The stock last traded at $4.43 and had previously closed at $4.31.

Analyst Ratings Changes

XERS has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $6.00 price objective (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. Piper Sandler reiterated a "neutral" rating and issued a $4.00 price target (up from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. Craig Hallum raised their price target on Xeris Biopharma from $5.00 to $6.50 and gave the company a "buy" rating in a research note on Friday, March 7th. Leerink Partners increased their price objective on Xeris Biopharma from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Friday, March 7th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Xeris Biopharma has a consensus rating of "Moderate Buy" and a consensus price target of $6.10.

Xeris Biopharma Trading Up 5.1 %

The company has a market capitalization of $736.57 million, a P/E ratio of -10.47 and a beta of 1.37. The company has a 50 day moving average price of $4.57 and a 200 day moving average price of $3.79.

Insider Buying and Selling at Xeris Biopharma

In other news, insider Beth Hecht sold 40,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $5.43, for a total transaction of $217,200.00. Following the transaction, the insider now owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This trade represents a 2.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.56% of the company's stock.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors and hedge funds have recently modified their holdings of XERS. Apollon Wealth Management LLC grew its position in shares of Xeris Biopharma by 19.8% during the 1st quarter. Apollon Wealth Management LLC now owns 24,160 shares of the company's stock worth $133,000 after purchasing an additional 4,000 shares in the last quarter. CWM LLC grew its position in Xeris Biopharma by 79.3% during the first quarter. CWM LLC now owns 66,972 shares of the company's stock worth $368,000 after buying an additional 29,614 shares in the last quarter. New York State Common Retirement Fund increased its stake in Xeris Biopharma by 90.3% during the 1st quarter. New York State Common Retirement Fund now owns 43,422 shares of the company's stock worth $238,000 after acquiring an additional 20,600 shares during the period. Gateway Wealth Partners LLC acquired a new position in Xeris Biopharma in the 1st quarter valued at $92,000. Finally, Xponance Inc. bought a new stake in shares of Xeris Biopharma during the 1st quarter valued at $57,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

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.