Xeris Biopharma (NASDAQ:XERS) Trading Up 5.2% – Time to Buy?

Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) shot up 5.2% during mid-day trading on Thursday . The company traded as high as $3.42 and last traded at $3.42. 1,043,397 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,719,907 shares. The stock had previously closed at $3.25.

Analyst Upgrades and Downgrades

XERS has been the subject of several recent research reports. HC Wainwright upped their price target on shares of Xeris Biopharma from $6.00 to $6.60 and gave the company a “buy” rating in a research report on Monday, November 11th. Piper Sandler lowered Xeris Biopharma from an “overweight” rating to a “neutral” rating and set a $3.00 target price for the company. in a research report on Monday, November 11th.

Xeris Biopharma Stock Performance

The stock has a market cap of $508.37 million, a P/E ratio of -7.58 and a beta of 2.65. The firm’s fifty day simple moving average is $3.23 and its 200-day simple moving average is $2.77.

Hedge Funds Weigh In On Xeris Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of Xeris Biopharma by 188.5% during the 3rd quarter. SG Americas Securities LLC now owns 60,202 shares of the company’s stock valued at $172,000 after acquiring an additional 39,335 shares during the period. Quantbot Technologies LP acquired a new position in shares of Xeris Biopharma during the third quarter valued at about $44,000. Walleye Capital LLC acquired a new stake in shares of Xeris Biopharma in the 3rd quarter valued at about $3,197,000. Wealth Enhancement Advisory Services LLC bought a new stake in Xeris Biopharma in the 3rd quarter valued at about $35,000. Finally, Renaissance Technologies LLC raised its stake in Xeris Biopharma by 33.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,351,640 shares of the company’s stock worth $3,041,000 after buying an additional 342,300 shares during the period. 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.