Xeris Biopharma (NASDAQ:XERS) Trading Down 8.3% – Should You Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares traded down 8.3% during trading on Friday . The company traded as low as $5.80 and last traded at $6.1830. 1,734,063 shares were traded during mid-day trading, a decline of 7% from the average session volume of 1,860,506 shares. The stock had previously closed at $6.74.

Analysts Set New Price Targets

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

Xeris Biopharma Stock Down 9.2%

The stock has a market cap of $1.02 billion, a P/E ratio of -61.19 and a beta of 0.52. The firm’s 50 day simple moving average is $7.23 and its two-hundred day simple moving average is $7.64.

Insider Activity

In related news, insider Beth Hecht sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $7.45, for a total transaction of $124,169.15. Following the completion of the transaction, the insider owned 1,243,174 shares in the company, valued at $9,261,646.30. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Barbara-Jean A. Bormann-Kennedy sold 15,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $7.09, for a total value of $106,350.00. Following the transaction, the director owned 142,500 shares of the company’s stock, valued at approximately $1,010,325. The trade was a 9.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 240,308 shares of company stock valued at $1,745,120 over the last quarter. Corporate insiders own 6.47% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Xeris Biopharma in the 4th quarter worth about $25,000. AlphaQuest LLC acquired a new position in Xeris Biopharma during the 3rd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its position in Xeris Biopharma by 9,276.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,501 shares of the company’s stock worth $59,000 after purchasing an additional 7,421 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Xeris Biopharma by 179.3% in 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 period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $63,000 after buying an additional 1,820 shares during the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

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.