Xeris Biopharma (NASDAQ:XERS) Stock Price Up 4.7% – Here’s What Happened

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) was up 4.7% during trading on Friday . The company traded as high as $4.40 and last traded at $4.32. Approximately 971,657 shares changed hands during trading, a decline of 47% from the average daily volume of 1,820,396 shares. The stock had previously closed at $4.13.

Analysts Set New Price Targets

Several research firms recently issued reports on XERS. HC Wainwright reiterated 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. Piper Sandler reiterated a “neutral” rating and issued a $4.00 price objective (up previously from $3.00) on shares of Xeris Biopharma in a research report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and set a $6.00 target price (up from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th.

Xeris Biopharma Stock Performance

The stock has a market capitalization of $628.53 million, a PE ratio of -9.37 and a beta of 2.32. The stock’s 50 day moving average is $3.54 and its two-hundred day moving average is $3.24.

Institutional Trading of Xeris Biopharma

A number of institutional investors have recently made changes to their positions in XERS. Walleye Capital LLC purchased a new position in Xeris Biopharma in the 3rd quarter valued at $3,197,000. JPMorgan Chase & Co. boosted its position in Xeris Biopharma by 166.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock worth $3,537,000 after acquiring an additional 651,481 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Xeris Biopharma during the 4th quarter valued at about $2,014,000. Millennium Management LLC raised its holdings in Xeris Biopharma by 34.8% in the 4th quarter. Millennium Management LLC now owns 1,948,552 shares of the company’s stock valued at $6,606,000 after acquiring an additional 502,853 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Xeris Biopharma by 31.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock valued at $7,115,000 after acquiring an additional 500,120 shares during the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

About Xeris Biopharma

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.