Xeris Biopharma (NASDAQ:XERS) Shares Gap Up – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares gapped up prior to trading on Monday . The stock had previously closed at $6.12, but opened at $7.08. Xeris Biopharma shares last traded at $6.6590, with a volume of 934,999 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Piper Sandler raised their target price on Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, November 7th. Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays assumed coverage on shares of Xeris Biopharma in a research report on Monday, December 8th. They set an “overweight” rating and a $9.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target on shares of Xeris Biopharma in a report on Friday, November 7th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Xeris Biopharma in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Xeris Biopharma presently has a consensus rating of “Moderate Buy” and an average price target of $10.08.

Xeris Biopharma Stock Performance

The company has a 50 day moving average of $7.23 and a 200 day moving average of $7.64. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -62.33 and a beta of 0.52.

Insider Buying and Selling at Xeris Biopharma

In other news, insider John Patrick Shannon, Jr. sold 24,907 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $7.08, for a total value of $176,341.56. Following the sale, the insider directly owned 2,705,346 shares in the company, valued at $19,153,849.68. This 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 available through the SEC website. Also, Director John Johnson sold 135,400 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $7.22, for a total transaction of $977,588.00. Following the completion of the sale, the director owned 698,083 shares of the company’s stock, valued at approximately $5,040,159.26. The trade was a 16.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 223,641 shares of company stock valued at $1,628,285. Insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new position in shares of Xeris Biopharma in the fourth quarter worth approximately $25,000. AlphaQuest LLC acquired a new stake in Xeris Biopharma during the third quarter valued at approximately $35,000. Caitong International Asset Management Co. Ltd grew its position in Xeris Biopharma by 9,276.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock valued at $59,000 after acquiring an additional 7,421 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Xeris Biopharma by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,063 shares of the company’s stock worth $63,000 after buying an additional 1,820 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Xeris Biopharma by 179.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 7,789 shares of the company’s stock valued at $63,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 42.75% of the company’s stock.

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.