Bank of New York Mellon Corp Trims Stock Position in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS)

Bank of New York Mellon Corp trimmed its stake in Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) by 2.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 322,375 shares of the company’s stock after selling 6,873 shares during the period. Bank of New York Mellon Corp’s holdings in Xeris Biopharma were worth $1,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XERS. Walleye Capital LLC acquired a new position in Xeris Biopharma in the third quarter valued at $3,197,000. Barclays PLC lifted its holdings in shares of Xeris Biopharma by 87.8% in the 3rd quarter. Barclays PLC now owns 324,472 shares of the company’s stock valued at $925,000 after purchasing an additional 151,685 shares during the last quarter. Legato Capital Management LLC acquired a new stake in shares of Xeris Biopharma in the 4th quarter valued at about $482,000. Geode Capital Management LLC grew its stake in Xeris Biopharma by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,333,470 shares of the company’s stock worth $9,502,000 after buying an additional 93,091 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Xeris Biopharma during the third quarter worth approximately $237,000. 42.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XERS has been the subject of several research analyst reports. Craig Hallum increased their price objective on Xeris Biopharma from $5.00 to $6.50 and gave the company a “buy” rating in a report on Friday, March 7th. Jefferies Financial Group reiterated a “buy” rating and set a $6.00 price target (up previously from $4.00) on shares of Xeris Biopharma in a research note on Wednesday, January 29th. Leerink Partners raised 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. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price (up from $6.60) on shares of Xeris Biopharma in a report on Friday, March 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $4.00 price target (up previously from $3.00) on shares of Xeris Biopharma in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $5.92.

Xeris Biopharma Stock Performance

Shares of XERS opened at $5.87 on Tuesday. The stock has a market capitalization of $903.63 million, a P/E ratio of -13.04 and a beta of 2.32. Xeris Biopharma Holdings, Inc. has a 1 year low of $1.69 and a 1 year high of $5.97. The company’s fifty day moving average is $3.93 and its two-hundred day moving average is $3.44.

Insider Activity

In other news, insider Beth Hecht sold 40,000 shares of the stock in a transaction that occurred on 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 directly owns 1,353,510 shares of the company’s stock, valued at approximately $7,349,559.30. This represents a 2.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.56% 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.