Xeris Pharmaceuticals Inc (NASDAQ:XERS) saw a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 1,294,780 shares, an increase of 38.7% from the March 15th total of 933,515 shares. Based on an average daily trading volume, of 276,154 shares, the days-to-cover ratio is currently 4.7 days. Currently, 5.7% of the company’s shares are short sold.
Separately, Zacks Investment Research downgraded Xeris Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, January 12th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.60.
XERS stock traded up $0.35 during midday trading on Friday, hitting $10.63. 77,737 shares of the company traded hands, compared to its average volume of 97,442. The company has a market cap of $286.34 million and a PE ratio of -2.13. The company has a quick ratio of 11.59, a current ratio of 11.59 and a debt-to-equity ratio of 0.42. Xeris Pharmaceuticals has a twelve month low of $8.67 and a twelve month high of $27.98.
In related news, insider Paul R. Edick purchased 30,000 shares of Xeris Pharmaceuticals stock in a transaction dated Monday, March 11th. The stock was acquired at an average cost of $9.12 per share, with a total value of $273,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James E. Flynn sold 14,807 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $15.02, for a total transaction of $222,401.14. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 620,500 shares of company stock valued at $6,178,600 and sold 32,048 shares valued at $427,268. Company insiders own 7.43% of the company’s stock.
Several institutional investors have recently made changes to their positions in XERS. FMR LLC grew its stake in shares of Xeris Pharmaceuticals by 128.6% in the third quarter. FMR LLC now owns 1,833,031 shares of the company’s stock worth $32,225,000 after acquiring an additional 1,031,231 shares during the last quarter. BlackRock Inc. grew its stake in shares of Xeris Pharmaceuticals by 1,477.7% in the third quarter. BlackRock Inc. now owns 394,416 shares of the company’s stock worth $6,933,000 after acquiring an additional 369,416 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Xeris Pharmaceuticals by 920.3% in the third quarter. Vanguard Group Inc now owns 255,064 shares of the company’s stock worth $4,484,000 after acquiring an additional 230,064 shares during the last quarter. Vanguard Group Inc. boosted its stake in Xeris Pharmaceuticals by 920.3% during the third quarter. Vanguard Group Inc. now owns 255,064 shares of the company’s stock worth $4,484,000 after buying an additional 230,064 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in Xeris Pharmaceuticals during the first quarter worth $232,000. Institutional investors and hedge funds own 40.09% of the company’s stock.
WARNING: “Xeris Pharmaceuticals Inc (NASDAQ:XERS) Sees Significant Increase in Short Interest” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.baseballdailydigest.com/news/2019/05/05/xeris-pharmaceuticals-inc-xers-sees-large-increase-in-short-interest.html.
Xeris Pharmaceuticals Company Profile
Xeris Pharmaceuticals, Inc, a specialty pharmaceutical company, develops and commercializes ready-to-use injectable and infusible drug formulations. Its proprietary XeriSol and XeriJect formulation technologies allow for the subcutaneous and intramuscular delivery of highly-concentrated, ready-to-use formulations of peptides, proteins, antibodies, and small molecules using commercially available syringes, auto-injectors, multi-dose pens, and infusion pumps.
Recommended Story: What are gap-down stocks?
Receive News & Ratings for Xeris Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xeris Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.