Xeris Biopharma (NASDAQ:XERS) Stock Price Down 4% - Here's What Happened

Key Points

• Xeris Biopharma's stock dropped 4% to $7.95 following a previous close of $8.28, with trading volume significantly down at 167,598 shares.
• Equities research analysts have mixed ratings for the company, with a consensus rating of "Moderate Buy" and an average price target of $7.08.
• Insider trading activities included Director John Johnson selling 107,500 shares, which decreased his ownership by 11.42%, reflecting potential concerns among insiders about the stock's future performance.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report) shares traded down 4% on Wednesday . The stock traded as low as $8.08 and last traded at $7.95. 167,598 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 2,468,918 shares. The stock had previously closed at $8.28.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Leerink Partners raised their target price on shares of Xeris Biopharma from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Xeris Biopharma in a research note on Wednesday. Wall Street Zen downgraded shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, HC Wainwright initiated coverage on shares of Xeris Biopharma in a research note on Tuesday, August 12th. They set a "buy" rating and a $10.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $7.08.

Xeris Biopharma Stock Down 1.4%

The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -38.84 and a beta of 0.39. The business's 50-day moving average is $7.45 and its 200-day moving average is $5.69.

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 business had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. As a group, analysts expect that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Insider Activity

In other news, 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 transaction of $786,900.00. Following the sale, the director directly owned 833,483 shares in the company, valued at $6,101,095.56. This trade represents a 11.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey W. Sherman sold 42,232 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.92, for a total value of $334,477.44. Following the sale, the director owned 219,188 shares in the company, valued at $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. In the last ninety days, insiders have sold 207,732 shares of company stock worth $1,550,437. 4.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Xeris Biopharma

Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Xeris Biopharma by 31.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock valued at $55,000 after acquiring an additional 3,847 shares during the period. Xponance Inc. purchased a new stake in shares of Xeris Biopharma during the first quarter worth about $57,000. FORA Capital LLC purchased a new stake in shares of Xeris Biopharma during the first quarter worth about $60,000. FNY Investment Advisers LLC purchased a new stake in shares of Xeris Biopharma during the first quarter worth about $63,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Xeris Biopharma by 913.1% during the second quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company's stock worth $81,000 after purchasing an additional 15,678 shares in the last quarter. 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.

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