Xeris Biopharma (NASDAQ:XERS) Shares Down 7.2% - Time to Sell?

Key Points

• Xeris Biopharma's stock price dropped by 7.2% to $7.70 following a midday trading session, with shares declining significantly from the average session volume.
• Despite the recent drop, analysts have mixed views, with HC Wainwright initiating coverage as a "buy" and setting a price target of $10.00, while Wall Street Zen downgraded its rating from "strong-buy" to "buy."
• Company insiders have sold a significant amount of stock recently, with one director selling 42,500 shares, which raises concerns regarding insider confidence in the company's future performance.

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS - Get Free Report)'s share price fell 7.2% during trading on Friday . The stock traded as low as $7.84 and last traded at $7.70. 1,596,209 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 2,491,289 shares. The stock had previously closed at $8.30.

Analyst Upgrades and Downgrades

XERS has been the subject of several research analyst reports. Leerink Partners increased their price objective on Xeris Biopharma from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 19th. HC Wainwright assumed coverage on shares of Xeris Biopharma in a research report on Tuesday, August 12th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Wall Street Zen cut shares of Xeris Biopharma from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Xeris Biopharma has a consensus rating of "Moderate Buy" and an average price target of $7.08.

Xeris Biopharma Price Performance

The stock's 50 day moving average price is $6.80 and its two-hundred day moving average price is $5.45. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -37.43 and a beta of 0.12.

Xeris Biopharma (NASDAQ:XERS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Marla Persky sold 15,500 shares of Xeris Biopharma stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $7.72, for a total value of $119,660.00. Following the completion of the transaction, the director owned 142,000 shares in the company, valued at approximately $1,096,240. The trade was a 9.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dawn Halkuff sold 42,500 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $7.28, for a total value of $309,400.00. Following the sale, the director owned 115,000 shares in the company, valued at $837,200. The trade was a 26.98% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,732 shares of company stock valued at $1,550,437. 4.56% of the stock is owned by insiders.

Institutional Trading of Xeris Biopharma

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. lifted its holdings in Xeris Biopharma by 9.7% during the 2nd quarter. Osaic Holdings Inc. now owns 42,709 shares of the company's stock worth $199,000 after buying an additional 3,774 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Xeris Biopharma by 7.6% in the second quarter. China Universal Asset Management Co. Ltd. now owns 32,167 shares of the company's stock valued at $150,000 after acquiring an additional 2,264 shares during the last quarter. Squarepoint Ops LLC increased its position in Xeris Biopharma by 1,679.1% in the second quarter. Squarepoint Ops LLC now owns 284,567 shares of the company's stock worth $1,329,000 after purchasing an additional 268,572 shares during the period. State of Wyoming bought a new stake in Xeris Biopharma during the 2nd quarter worth about $164,000. Finally, Tower Research Capital LLC TRC lifted its position in Xeris Biopharma by 913.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company's stock valued at $81,000 after purchasing an additional 15,678 shares during the period. 42.75% of the stock is owned by 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.