104,410 Shares in Xeris Biopharma Holdings, Inc. $XERS Bought by Palo Alto Investors LP

Palo Alto Investors LP bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) in the second quarter, HoldingsChannel reports. The fund bought 104,410 shares of the company’s stock, valued at approximately $826,927,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new position in shares of Xeris Biopharma during the 4th quarter worth about $25,000. KBC Group NV acquired a new stake in Xeris Biopharma in the 1st quarter valued at about $27,000. Allworth Financial LP acquired a new stake in Xeris Biopharma in the 2nd quarter valued at about $34,000. State of Wyoming acquired a new stake in Xeris Biopharma in the 2nd quarter valued at about $52,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Xeris Biopharma by 9,276.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock worth $59,000 after purchasing an additional 7,421 shares during the period. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Xeris Biopharma

In related news, insider Beth Hecht sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $6.06, for a total transaction of $101,002.02. Following the completion of the transaction, the insider directly owned 1,176,506 shares in the company, valued at $7,129,626.36. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Barbara-Jean A. Bormann-Kennedy sold 16,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $6.09, for a total transaction of $97,440.00. Following the completion of the transaction, the director directly owned 126,500 shares of the company’s stock, valued at approximately $770,385. The trade was a 11.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 271,499 shares of company stock valued at $2,038,917. 4.35% of the stock is currently owned by insiders.

Xeris Biopharma Stock Down 0.9%

XERS stock opened at $8.60 on Friday. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -78.18 and a beta of 0.66. The business’s fifty day moving average price is $8.26 and its two-hundred day moving average price is $6.92. Xeris Biopharma Holdings, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $10.08.

Xeris Biopharma (NASDAQ:XERS) last announced its earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). Xeris Biopharma had a positive return on equity of 338.21% and a negative net margin of 5.12%.The business had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. On average, equities analysts anticipate that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current year.

Analysts Set New Price Targets

XERS has been the topic of a number of recent analyst reports. Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Barclays lifted their price objective on shares of Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.00.

About Xeris Biopharma

Xeris Biopharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for endocrine and orphan diseases. The company’s proprietary formulation platform is designed to enable liquid stability of drugs that traditionally require reconstitution before injection. By eliminating the need for on-site mixing and simplifying administration, Xeris aims to improve patient safety, adherence, and convenience in high-need therapeutic areas.

The company’s flagship product, Gvoke, is a ready-to-use liquid glucagon autoinjector and prefilled syringe that has been approved by the U.S.