Investors Buy Large Volume of Call Options on Xeris Biopharma (NASDAQ:XERS)

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was the target of some unusual options trading on Wednesday. Stock investors bought 2,121 call options on the company. This is an increase of approximately 399% compared to the average volume of 425 call options.

Insider Buying and Selling

In related news, insider John Patrick Shannon, Jr. sold 23,242 shares of Xeris Biopharma stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $7.46, for a total value of $173,385.32. Following the transaction, the insider owned 2,643,153 shares in the company, valued at $19,717,921.38. This trade represents a 0.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Beth Hecht sold 16,667 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $7.01, for a total value of $116,835.67. Following the completion of the sale, the insider directly owned 1,320,176 shares in the company, valued at approximately $9,254,433.76. This represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 206,976 shares of company stock worth $1,497,495. Insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Xeris Biopharma by 13.4% in the first quarter. AQR Capital Management LLC now owns 946,766 shares of the company’s stock worth $5,198,000 after acquiring an additional 111,826 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Xeris Biopharma by 866.6% in the third quarter. Voya Investment Management LLC now owns 400,079 shares of the company’s stock valued at $3,257,000 after purchasing an additional 358,689 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Xeris Biopharma by 1,679.1% in the second quarter. Squarepoint Ops LLC now owns 284,567 shares of the company’s stock valued at $1,329,000 after purchasing an additional 268,572 shares in the last quarter. Savvy Advisors Inc. bought a new position in Xeris Biopharma in the 2nd quarter worth approximately $189,000. Finally, Fred Alger Management LLC acquired a new position in Xeris Biopharma during the 1st quarter worth $736,000. 42.75% of the stock is owned by institutional investors and hedge funds.

Xeris Biopharma Price Performance

Shares of Xeris Biopharma stock opened at $7.85 on Friday. Xeris Biopharma has a 52-week low of $3.14 and a 52-week high of $10.08. The firm has a market capitalization of $1.30 billion, a PE ratio of -78.49 and a beta of 0.50. The company’s fifty day moving average price is $7.61 and its two-hundred day moving average price is $7.04.

Xeris Biopharma (NASDAQ:XERS) last issued its earnings results on Thursday, November 6th. The company reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.01). The firm had revenue of $74.38 million for the quarter, compared to analyst estimates of $74.19 million. Analysts predict that Xeris Biopharma will post -0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on XERS shares. Zacks Research cut Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Wall Street Zen cut shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 8th. Oppenheimer restated an “outperform” rating and issued a $18.00 price target on shares of Xeris Biopharma in a research report on Friday, November 7th. Piper Sandler boosted their price objective on shares of Xeris Biopharma from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated 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 issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

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.