Xeris Biopharma Holdings, Inc. $XERS Stock: CenterBook Partners LP Cuts Holdings

CenterBook Partners LP decreased its position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) by 46.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,326 shares of the company’s stock after selling 129,239 shares during the quarter. CenterBook Partners LP’s holdings in Xeris Biopharma were worth $1,447,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of XERS. BlackRock Inc. acquired a new position in Xeris Biopharma during the second quarter valued at approximately $115,042,000. Legal & General Group Plc acquired a new stake in Xeris Biopharma in the second quarter worth $15,941,000. Parkman Healthcare Partners LLC acquired a new stake in Xeris Biopharma in the second quarter worth $14,316,000. Bank of America Corp DE acquired a new stake in Xeris Biopharma in the second quarter worth $11,065,000. Finally, Vilga Financial Planning LLC bought a new position in shares of Xeris Biopharma during the third quarter worth $10,134,000. Institutional investors own 42.75% of the company’s stock.

Insider Activity

In related news, insider Beth Hecht sold 25,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $10.23, for a total transaction of $255,750.00. Following the sale, the insider directly owned 1,086,130 shares in the company, valued at $11,111,109.90. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin McCulloch sold 25,000 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider directly owned 1,614,208 shares in the company, valued at $16,142,080. This represents a 1.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 173,332 shares of company stock worth $1,721,471 over the last quarter. 4.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Leerink Partners upped their price objective on shares of Xeris Biopharma from $12.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. HC Wainwright raised their price objective on Xeris Biopharma from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler reiterated a “neutral” rating and set a $12.00 target price (up from $8.00) on shares of Xeris Biopharma in a report on Friday. Finally, Barclays boosted their target price on Xeris Biopharma from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Xeris Biopharma has a consensus rating of “Moderate Buy” and an average target price of $16.20.

Xeris Biopharma Price Performance

Shares of XERS opened at $15.86 on Tuesday. The company has a debt-to-equity ratio of 17.00, a quick ratio of 1.02 and a current ratio of 1.45. The stock has a 50 day simple moving average of $9.77 and a 200 day simple moving average of $7.66. Xeris Biopharma Holdings, Inc. has a 52-week low of $5.25 and a 52-week high of $15.94. The firm has a market capitalization of $2.89 billion, a PE ratio of -317.14 and a beta of 0.61.

Xeris Biopharma (NASDAQ:XERS) last announced its earnings results on Thursday, November 5th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $107.23 million for the quarter, compared to the consensus estimate of $101.68 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. Sell-side analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 EPS for the current fiscal year.

About Xeris Biopharma

Xeris Biopharma is a commercial-stage biopharmaceutical company focused on developing and providing treatments for people with endocrine and other serious health conditions. Its products include Gvoke, a ready-to-use glucagon product for the treatment of severe hypoglycemia, and Recorlev, a treatment for adults with endogenous hypercortisolemia associated with Cushing syndrome when surgery is not an option or has not been curative.

The company also develops drug-delivery technologies intended to make medicines easier to store and administer.