Xeris Biopharma (NASDAQ:XERS) Insider John Patrick Shannon, Jr. Sells 24,907 Shares of Stock

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) insider John Patrick Shannon, Jr. sold 24,907 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $7.08, for a total transaction of $176,341.56. Following the transaction, the insider directly owned 2,705,346 shares in the company, valued at approximately $19,153,849.68. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Xeris Biopharma Trading Down 1.8%

XERS stock opened at $6.96 on Wednesday. The company’s 50-day moving average price is $7.48 and its 200 day moving average price is $7.14. Xeris Biopharma Holdings, Inc. has a 52 week low of $3.14 and a 52 week high of $10.08. The company has a market cap of $1.15 billion, a P/E ratio of -69.59 and a beta of 0.50.

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

Institutional Investors Weigh In On Xeris Biopharma

Several hedge funds have recently modified their holdings of XERS. Geode Capital Management LLC grew its holdings in shares of Xeris Biopharma by 7.2% during the second quarter. Geode Capital Management LLC now owns 3,650,688 shares of the company’s stock worth $17,052,000 after buying an additional 244,862 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Xeris Biopharma by 6.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 3,274,834 shares of the company’s stock worth $26,657,000 after acquiring an additional 185,063 shares during the period. Goldman Sachs Group Inc. raised its holdings in Xeris Biopharma by 75.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Xeris Biopharma by 19.0% during the 1st quarter. Millennium Management LLC now owns 2,317,972 shares of the company’s stock worth $12,726,000 after purchasing an additional 369,420 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Xeris Biopharma by 27.8% during the second quarter. Legal & General Group Plc now owns 1,804,203 shares of the company’s stock worth $8,426,000 after purchasing an additional 392,589 shares during the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. 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 report on Friday, November 7th. Zacks Research downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target on shares of Xeris Biopharma in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.