Xeris Biopharma (NASDAQ:XERS) Shares Down 6.2% - Should You Sell?

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

Wall Street Analyst Weigh In

A number of brokerages have commented on XERS. Jefferies Financial Group reiterated a "buy" rating and issued a $6.00 price objective (up from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective (up from $6.60) on shares of Xeris Biopharma in a research report on Friday, March 7th. Leerink Partners upped their target price on shares of Xeris Biopharma from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Craig Hallum lifted their target price on shares of Xeris Biopharma from $5.00 to $6.50 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, Piper Sandler reissued a "neutral" rating and issued a $4.00 target price (up previously from $3.00) on shares of Xeris Biopharma in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $6.10.

Xeris Biopharma Price Performance

The stock has a 50-day moving average price of $4.30 and a 200 day moving average price of $3.59. The company has a market cap of $678.88 million, a price-to-earnings ratio of -9.80 and a beta of 1.37.

Insider Buying and Selling at Xeris Biopharma

In other Xeris Biopharma news, insider Beth Hecht sold 40,000 shares of the business's stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this link. Insiders own 4.56% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Xeris Biopharma by 31.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,268 shares of the company's stock valued at $55,000 after acquiring an additional 3,847 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Xeris Biopharma by 446.0% during the 4th quarter. Mackenzie Financial Corp now owns 129,952 shares of the company's stock worth $441,000 after purchasing an additional 106,153 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Xeris Biopharma by 118.2% in the fourth quarter. Squarepoint Ops LLC now owns 40,769 shares of the company's stock valued at $138,000 after buying an additional 22,084 shares in the last quarter. Two Sigma Advisers LP bought a new stake in Xeris Biopharma during the fourth quarter worth $47,000. Finally, Stonepine Capital Management LLC bought a new position in shares of Xeris Biopharma in the 4th quarter valued at about $618,000. Institutional investors and hedge funds 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.