Xeris Biopharma (NASDAQ:XERS) Trading Down 9.3% – Should You Sell?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)’s stock price was down 9.3% during trading on Thursday . The company traded as low as $6.41 and last traded at $6.3780. Approximately 1,440,140 shares changed hands during trading, a decline of 19% from the average daily volume of 1,770,545 shares. The stock had previously closed at $7.03.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on XERS. Barclays initiated coverage on Xeris Biopharma in a research report on Monday, December 8th. They issued an “overweight” rating and a $9.00 price target for the company. Wall Street Zen lowered shares of Xeris Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Xeris Biopharma in a report on Wednesday, January 21st. Piper Sandler lifted their price target on Xeris Biopharma from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Xeris Biopharma in a research note on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.08.

Xeris Biopharma Stock Performance

The company has a market cap of $1.05 billion, a price-to-earnings ratio of -63.29 and a beta of 0.52. The company’s 50 day moving average price is $7.30 and its 200 day moving average price is $7.63.

Insider Activity at Xeris Biopharma

In related news, Director John Johnson sold 135,400 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $7.22, for a total value of $977,588.00. Following the completion of the sale, the director directly owned 698,083 shares in the company, valued at approximately $5,040,159.26. The trade was a 16.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Patrick Shannon, Jr. sold 24,907 shares of Xeris Biopharma stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $7.08, for a total transaction of $176,341.56. Following the completion of the transaction, the insider directly owned 2,705,346 shares in the company, valued at approximately $19,153,849.68. This represents a 0.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 240,308 shares of company stock worth $1,745,120 in the last 90 days. Insiders own 6.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in XERS. Corient Private Wealth LLC acquired a new stake in Xeris Biopharma during the fourth quarter worth about $84,000. VARCOV Co. bought a new stake in shares of Xeris Biopharma in the 4th quarter worth approximately $243,000. Virtus Investment Advisers LLC grew its holdings in shares of Xeris Biopharma by 44.1% during the 4th quarter. Virtus Investment Advisers LLC now owns 37,102 shares of the company’s stock worth $291,000 after purchasing an additional 11,358 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Xeris Biopharma by 63.7% during the 4th quarter. Millennium Management LLC now owns 859,051 shares of the company’s stock worth $6,744,000 after purchasing an additional 334,302 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Xeris Biopharma during the fourth quarter valued at approximately $375,000. 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.