Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) Short Interest Update

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 17,040,000 shares, an increase of 52.0% from the March 15th total of 11,210,000 shares. Based on an average daily volume of 2,810,000 shares, the short-interest ratio is presently 6.1 days. Approximately 12.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on XERS. Craig Hallum raised their price target on Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a research note on Friday, March 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 target price (up previously from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. Jefferies Financial Group restated a “buy” rating and issued a $6.00 price target (up from $4.00) on shares of Xeris Biopharma in a research report on Wednesday, January 29th. Leerink Partners increased their price objective on shares of Xeris Biopharma from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Finally, HC Wainwright restated a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a research note on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $6.10.

Xeris Biopharma Stock Performance

Xeris Biopharma stock opened at $4.11 on Friday. The stock’s 50 day simple moving average is $4.44 and its two-hundred day simple moving average is $3.69. Xeris Biopharma has a fifty-two week low of $1.69 and a fifty-two week high of $6.07. The stock has a market cap of $632.69 million, a price-to-earnings ratio of -9.13 and a beta of 1.37.

Insiders Place Their Bets

In other Xeris Biopharma news, insider Beth Hecht sold 40,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $5.43, for a total transaction of $217,200.00. Following the completion of the transaction, the insider now owns 1,353,510 shares in the company, valued at approximately $7,349,559.30. This represents a 2.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.56% of the company’s stock.

Institutional Trading of Xeris Biopharma

Several hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in Xeris Biopharma during the first quarter valued at approximately $63,000. Wealth Enhancement Advisory Services LLC grew its stake in Xeris Biopharma by 92.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 31,254 shares of the company’s stock valued at $172,000 after purchasing an additional 14,986 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Xeris Biopharma during the first quarter worth $84,000. Apella Capital LLC purchased a new stake in shares of Xeris Biopharma during the 1st quarter valued at $55,000. Finally, Rhumbline Advisers boosted its position in shares of Xeris Biopharma by 6.3% in the 1st quarter. Rhumbline Advisers now owns 192,281 shares of the company’s stock worth $1,056,000 after purchasing an additional 11,317 shares in the last quarter. Institutional investors own 42.75% of the company’s stock.

About Xeris Biopharma

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.