The Manufacturers Life Insurance Company Invests $592,000 in Xeris Biopharma Holdings, Inc. $XERS

The Manufacturers Life Insurance Company bought a new stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 74,704 shares of the company’s stock, valued at approximately $592,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in Xeris Biopharma during the 4th quarter valued at approximately $25,000. KBC Group NV purchased a new stake in shares of Xeris Biopharma in the 1st quarter valued at $27,000. Allworth Financial LP acquired a new stake in shares of Xeris Biopharma in the second quarter worth $34,000. State of Wyoming acquired a new stake in shares of Xeris Biopharma in the second quarter worth $52,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

Xeris Biopharma Price Performance

Shares of NASDAQ XERS opened at $8.53 on Monday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -77.55 and a beta of 0.70. Xeris Biopharma Holdings, Inc. has a 12 month low of $5.25 and a 12 month high of $10.08. The firm’s 50 day simple moving average is $8.41 and its 200-day simple moving average is $6.98. The company has a debt-to-equity ratio of 17.00, a current ratio of 1.45 and a quick ratio of 1.02.

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

Insider Buying and Selling at Xeris Biopharma

In other news, insider Steven Pieper sold 27,600 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $8.52, for a total transaction of $235,152.00. Following the sale, the insider directly owned 1,366,053 shares in the company, valued at $11,638,771.56. This trade represents a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 90,000 shares of Xeris Biopharma stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $8.03, for a total value of $722,700.00. Following the completion of the transaction, the insider owned 1,691,126 shares of the company’s stock, valued at approximately $13,579,741.78. This represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 224,998 shares of company stock valued at $1,847,219. Corporate insiders own 4.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on XERS shares. Wall Street Zen downgraded shares of Xeris Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays increased their price target on Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings lowered Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

Xeris Biopharma Company Profile

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.