Xeris Biopharma (NASDAQ:XERS) Trading Down 9.3% – Time to Sell?

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) fell 9.3% during trading on Thursday . The stock traded as low as $6.41 and last traded at $6.3780. 1,440,140 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,770,545 shares. The stock had previously closed at $7.03.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on XERS shares. 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 reissued an “outperform” rating and issued a $18.00 price target on shares of Xeris Biopharma in a research report on Friday, November 7th. Barclays began coverage on shares of Xeris Biopharma in a research note on Monday, December 8th. They set an “overweight” rating and a $9.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Xeris Biopharma in a research note on Wednesday, January 21st. Finally, Zacks Research cut Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Five 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 currently has a consensus rating of “Moderate Buy” and an average target price of $10.08.

Xeris Biopharma Trading Down 10.0%

The stock has a fifty day moving average of $7.30 and a two-hundred day moving average of $7.63. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -63.29 and a beta of 0.52.

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,667 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $7.43, for a total transaction of $123,835.81. Following the sale, the insider owned 1,308,103 shares of the company’s stock, valued at $9,719,205.29. This represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Mcculloch sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $8.00, for a total transaction of $120,000.00. Following the completion of the transaction, the insider directly owned 1,685,426 shares of the company’s stock, valued at approximately $13,483,408. This represents a 0.88% 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 worth $1,745,120 over the last quarter. Corporate insiders own 6.47% of the company’s stock.

Institutional Investors Weigh In On Xeris Biopharma

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Xeris Biopharma by 13.8% in the fourth quarter. Vanguard Group Inc. now owns 11,186,677 shares of the company’s stock worth $87,815,000 after purchasing an additional 1,358,760 shares during the period. Geode Capital Management LLC grew its position in shares of Xeris Biopharma by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 4,275,989 shares of the company’s stock worth $33,571,000 after buying an additional 135,815 shares during the period. State Street Corp raised its stake in shares of Xeris Biopharma by 10.1% during the fourth quarter. State Street Corp now owns 4,116,924 shares of the company’s stock worth $32,318,000 after buying an additional 378,595 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Xeris Biopharma by 6.0% in the third quarter. Qube Research & Technologies Ltd now owns 3,274,834 shares of the company’s stock valued at $26,657,000 after buying an additional 185,063 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Xeris Biopharma by 75.4% in the first quarter. Goldman Sachs Group Inc. now owns 2,790,014 shares of the company’s stock valued at $15,317,000 after acquiring an additional 1,199,435 shares during the last quarter. Institutional investors own 42.75% of the company’s stock.

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.