Xeris Biopharma (NASDAQ:XERS) Stock Price Down 4.9% on Insider Selling

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was down 4.9% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $6.69 and last traded at $6.6160. Approximately 786,837 shares were traded during trading, a decline of 68% from the average daily volume of 2,487,622 shares. The stock had previously closed at $6.96.

Specifically, insider Beth Hecht sold 16,667 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $7.01, for a total transaction of $116,835.67. Following the completion of the transaction, the insider owned 1,320,176 shares in the company, valued at approximately $9,254,433.76. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Zacks Research cut shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Xeris Biopharma in a research report on Friday, November 7th. Leerink Partners increased their price target on Xeris Biopharma from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Piper Sandler raised their price target on Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Finally, Wall Street Zen cut Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 8th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.58.

Xeris Biopharma Trading Down 0.1%

The business has a 50 day moving average of $8.13 and a two-hundred day moving average of $6.70. The firm has a market cap of $1.11 billion, a P/E ratio of -67.19 and a beta of 0.57.

Xeris Biopharma (NASDAQ:XERS) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). The company had revenue of $74.38 million during the quarter, compared to analyst estimates of $74.19 million. On average, sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of XERS. AlphaQuest LLC bought a new stake in shares of Xeris Biopharma in the third quarter worth $35,000. FORA Capital LLC acquired a new position in Xeris Biopharma during the 1st quarter worth about $60,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Xeris Biopharma by 179.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock valued at $63,000 after buying an additional 5,000 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Xeris Biopharma in the 3rd quarter valued at about $68,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Xeris Biopharma by 913.1% in the second quarter. Tower Research Capital LLC TRC now owns 17,395 shares of the company’s stock valued at $81,000 after buying an additional 15,678 shares during the period. 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.