Xeris Biopharma (NASDAQ:XERS) Trading Down 6.2% – Time to Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shares fell 6.2% on Tuesday . The company traded as low as $5.09 and last traded at $5.15. 902,594 shares traded hands during 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

Several analysts have issued reports on XERS shares. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target (up from $6.60) on shares of Xeris Biopharma in a research report on Friday, March 7th. Craig Hallum raised their target price 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. Jefferies Financial Group reiterated a “buy” rating and set a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a report on Wednesday, January 29th. Leerink Partners upped their price objective on Xeris Biopharma from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, Piper Sandler reiterated a “neutral” rating and set a $4.00 target price (up from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Xeris Biopharma currently has an average rating of “Moderate Buy” and an average target price of $6.10.

Xeris Biopharma Price Performance

The stock has a market capitalization of $808.95 million, a price-to-earnings ratio of -11.63 and a beta of 2.32. The company’s 50-day simple moving average is $4.18 and its 200-day simple moving average is $3.54.

Insider Buying and Selling

In related news, insider Beth Hecht sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $5.43, for a total value of $217,200.00. Following the transaction, the insider now directly owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This represents a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.56% of the stock is currently owned by insiders.

Institutional Trading of Xeris Biopharma

A number of institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Xeris Biopharma by 31.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company’s stock worth $55,000 after purchasing an additional 3,847 shares during the period. Mackenzie Financial Corp grew its position in Xeris Biopharma by 446.0% during the fourth quarter. Mackenzie Financial Corp now owns 129,952 shares of the company’s stock worth $441,000 after buying an additional 106,153 shares in the last quarter. Squarepoint Ops LLC increased its stake in Xeris Biopharma by 118.2% during the 4th quarter. Squarepoint Ops LLC now owns 40,769 shares of the company’s stock worth $138,000 after acquiring an additional 22,084 shares during the period. Two Sigma Advisers LP acquired a new position in Xeris Biopharma in the 4th quarter valued at $47,000. Finally, Stonepine Capital Management LLC acquired a new position in Xeris Biopharma in the 4th quarter valued at $618,000. Institutional investors own 42.75% of the company’s stock.

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.