MetLife Investment Management LLC Decreases Stake in Xeris Biopharma Holdings, Inc. $XERS

MetLife Investment Management LLC reduced its stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) by 6.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,769 shares of the company’s stock after selling 5,663 shares during the quarter. MetLife Investment Management LLC owned about 0.05% of Xeris Biopharma worth $449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Walleye Capital LLC purchased a new position in shares of Xeris Biopharma in the 1st quarter valued at approximately $3,798,000. Jump Financial LLC raised its position in shares of Xeris Biopharma by 1,371.4% in the 1st quarter. Jump Financial LLC now owns 423,523 shares of the company’s stock valued at $2,325,000 after purchasing an additional 394,739 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Xeris Biopharma by 43.5% in the 1st quarter. EntryPoint Capital LLC now owns 75,706 shares of the company’s stock valued at $416,000 after purchasing an additional 22,946 shares during the last quarter. Voss Capital LP purchased a new position in shares of Xeris Biopharma in the 1st quarter valued at approximately $1,510,000. Finally, Quantbot Technologies LP purchased a new position in shares of Xeris Biopharma in the 1st quarter valued at approximately $297,000. 42.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kevin Mcculloch acquired 25,000 shares of the company’s stock in a transaction dated Friday, June 13th. The shares were acquired at an average price of $4.38 per share, with a total value of $109,500.00. Following the purchase, the insider directly owned 1,708,585 shares of the company’s stock, valued at $7,483,602.30. This trade represents a 1.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey W. Sherman sold 42,232 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.92, for a total transaction of $334,477.44. Following the sale, the director directly owned 219,188 shares in the company, valued at $1,735,968.96. The trade was a 16.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold 192,232 shares of company stock worth $1,430,777 over the last 90 days. Company insiders own 4.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Leerink Partners increased their price target on shares of Xeris Biopharma from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday, August 19th. Wall Street Zen downgraded shares of Xeris Biopharma from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, HC Wainwright assumed coverage on shares of Xeris Biopharma in a report on Tuesday, August 12th. They issued a “buy” rating and a $10.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.08.

Xeris Biopharma Price Performance

Shares of NASDAQ XERS opened at $7.85 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -37.38 and a beta of 0.12. Xeris Biopharma Holdings, Inc. has a 12 month low of $2.49 and a 12 month high of $8.03. The firm’s 50 day simple moving average is $6.19 and its 200-day simple moving average is $5.15.

Xeris Biopharma (NASDAQ:XERS) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The firm had revenue of $67.71 million for the quarter, compared to analyst estimates of $64.58 million. Analysts anticipate that Xeris Biopharma Holdings, Inc. will post -0.41 earnings per share for the current fiscal year.

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.