Xeris Biopharma (NASDAQ:XERS) Trading Up 8.4% on Insider Buying Activity

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price traded up 8.4% during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $4.70 and last traded at $4.77. 437,729 shares were traded during mid-day trading, a decline of 78% from the average session volume of 1,978,886 shares. The stock had previously closed at $4.40.

Specifically, insider Kevin Mcculloch purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $4.38 per share, for a total transaction of $109,500.00. Following the completion of the transaction, the insider now owns 1,708,585 shares of the company’s stock, valued at $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered Xeris Biopharma from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Craig Hallum boosted their price target on shares of Xeris Biopharma from $5.00 to $6.50 and gave the stock a “buy” rating in a research report on Friday, March 7th. Piper Sandler reaffirmed a “neutral” rating and set a $4.00 price objective (up previously from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a research note on Friday, March 7th. Finally, Leerink Partners boosted their target price on Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Xeris Biopharma Stock Performance

The company has a market capitalization of $737.36 million, a price-to-earnings ratio of -10.48 and a beta of 0.71. The firm has a 50-day simple moving average of $4.55 and a two-hundred day simple moving average of $4.14.

Xeris Biopharma (NASDAQ:XERS) last announced its earnings results on Thursday, May 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $57.80 million for the quarter, compared to analysts’ expectations of $57.61 million. As a group, equities analysts forecast that Xeris Biopharma Holdings, Inc. will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd raised its holdings in shares of Xeris Biopharma by 27.7% in the 1st quarter. R Squared Ltd now owns 15,730 shares of the company’s stock valued at $86,000 after purchasing an additional 3,410 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Xeris Biopharma by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 80,388 shares of the company’s stock valued at $273,000 after buying an additional 3,447 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Xeris Biopharma by 31.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company’s stock valued at $55,000 after buying an additional 3,847 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Xeris Biopharma by 19.8% during the 1st quarter. Apollon Wealth Management LLC now owns 24,160 shares of the company’s stock worth $133,000 after buying an additional 4,000 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Xeris Biopharma by 23.4% during the 4th quarter. Prudential Financial Inc. now owns 36,945 shares of the company’s stock worth $125,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other 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.