Xeris Biopharma (NASDAQ:XERS) Trading Down 6.2% – Should You Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price traded down 6.2% during trading on Tuesday . The stock traded as low as $5.09 and last traded at $5.15. 902,594 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 1,757,911 shares. The stock had previously closed at $5.49.

Wall Street Analyst Weigh In

XERS has been the topic of a number of recent research reports. Piper Sandler reissued 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 set a $8.00 price target (up previously from $6.60) on shares of Xeris Biopharma in a research report on Friday, March 7th. Leerink Partners raised their price objective on shares of Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $6.00 target price (up from $4.00) on shares of Xeris Biopharma in a research note on Wednesday, January 29th. Finally, Craig Hallum increased their price target on shares of Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Xeris Biopharma has an average rating of “Moderate Buy” and a consensus target price of $6.10.

Xeris Biopharma Trading Up 1.4 %

The stock has a market capitalization of $792.79 million, a PE ratio of -11.44 and a beta of 2.32. The firm’s fifty day moving average is $4.25 and its 200-day moving average is $3.57.

Insider Transactions at Xeris Biopharma

In related news, insider Beth Hecht sold 40,000 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $5.43, for a total value of $217,200.00. Following the sale, the insider now owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. The trade was a 2.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.56% of the company’s stock.

Hedge Funds Weigh In On Xeris Biopharma

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Xeris Biopharma by 166.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,043,441 shares of the company’s stock valued at $3,537,000 after purchasing an additional 651,481 shares during the period. Driehaus Capital Management LLC acquired a new stake in Xeris Biopharma during the 4th quarter worth approximately $2,014,000. Millennium Management LLC boosted its position 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 buying an additional 502,853 shares during the period. Renaissance Technologies LLC grew its stake in shares of Xeris Biopharma by 31.3% in the fourth quarter. Renaissance Technologies LLC now owns 2,098,840 shares of the company’s stock worth $7,115,000 after acquiring an additional 500,120 shares in the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in shares of Xeris Biopharma by 465.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 578,511 shares of the company’s stock worth $1,961,000 after acquiring an additional 476,118 shares in the last quarter. 42.75% of the stock is owned by institutional investors and hedge funds.

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.