Xeris Biopharma (NASDAQ:XERS) Stock Price Up 5.7% – Here’s Why

Shares of Xeris Biopharma Holdings, Inc. (NASDAQ:XERS) rose 5.7% during trading on Friday . The company traded as high as $3.60 and last traded at $3.55. Approximately 1,281,332 shares traded hands during trading, a decline of 8% from the average daily volume of 1,395,790 shares. The stock had previously closed at $3.36.

Analysts Set New Price Targets

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

Xeris Biopharma Stock Performance

The company’s 50-day moving average price is $3.34 and its 200 day moving average price is $2.90. The stock has a market capitalization of $518.80 million, a P/E ratio of -7.73 and a beta of 2.62.

Hedge Funds Weigh In On Xeris Biopharma

Several large investors have recently made changes to their positions in XERS. Wealth Enhancement Advisory Services LLC bought a new stake in Xeris Biopharma during the 3rd quarter valued at approximately $35,000. Quantbot Technologies LP purchased a new stake in Xeris Biopharma during the 3rd quarter valued at approximately $44,000. Asset Management Group Inc. raised its position in shares of Xeris Biopharma by 130.7% during the second quarter. Asset Management Group Inc. now owns 26,480 shares of the company’s stock valued at $60,000 after buying an additional 15,000 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Xeris Biopharma in the second quarter worth $75,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Xeris Biopharma by 64.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 28,657 shares of the company’s stock worth $82,000 after acquiring an additional 11,239 shares during the last quarter. 42.75% of the stock is currently owned by hedge funds and other institutional investors.

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.