Legal & General Group Plc Takes Position in Xeris Biopharma Holdings, Inc. $XERS

Legal & General Group Plc purchased a new position in shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 2,012,792 shares of the company’s stock, valued at approximately $15,941,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Xeris Biopharma during the 4th quarter worth $25,000. Allworth Financial LP purchased a new position in Xeris Biopharma during the second quarter worth about $34,000. KBC Group NV acquired a new stake in Xeris Biopharma in the first quarter valued at about $27,000. State of Wyoming purchased a new stake in Xeris Biopharma in the 2nd quarter valued at approximately $52,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Xeris Biopharma by 9,276.3% during 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 period. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 16,666 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $8.03, for a total transaction of $133,827.98. Following the sale, the insider directly owned 1,161,128 shares in the company, valued at approximately $9,323,857.84. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Mcculloch sold 90,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $8.03, for a total value of $722,700.00. Following the completion of the sale, the insider directly owned 1,691,126 shares in the company, valued at $13,579,741.78. This trade represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 254,832 shares of company stock worth $1,937,915 over the last ninety days. 4.35% of the stock is currently owned by corporate insiders.

Xeris Biopharma Stock Performance

Shares of XERS opened at $8.48 on Monday. Xeris Biopharma Holdings, Inc. has a twelve month low of $5.25 and a twelve month high of $10.08. The company has a current ratio of 1.45, a quick ratio of 1.02 and a debt-to-equity ratio of 17.00. The firm has a market capitalization of $1.55 billion, a P/E ratio of -77.09 and a beta of 0.66. The firm’s 50-day moving average is $8.29 and its two-hundred day moving average is $6.93.

Xeris Biopharma (NASDAQ:XERS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.19). The company had revenue of $92.10 million for the quarter, compared to analyst estimates of $90.12 million. Xeris Biopharma had a negative net margin of 5.12% and a positive return on equity of 338.21%. On average, research analysts predict that Xeris Biopharma Holdings, Inc. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings cut Xeris Biopharma from a “hold (c-)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Barclays increased their price objective on Xeris Biopharma from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.00.

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.