In a recent transaction on May 10, John P. Schmid, a director at Xeris Biopharma Holdings, Inc. (NASDAQ:XERS), increased his stake in the company through the purchase of shares. Schmid acquired 5,400 shares of common stock at a price of $1.91 per share, totaling approximately $10,314.
The transaction has resulted in Schmid's indirect ownership, through The Schmid Family Trust dated August 15, 2017, reaching a total of 16,400 shares in the pharmaceutical company. It should be noted that Schmid has disclaimed beneficial ownership of these securities except to the extent of his pecuniary interest, and this report does not constitute an admission of beneficial ownership for all reported shares.
Xeris Biopharma Holdings, Inc., based in Chicago, Illinois, operates in the pharmaceutical industry, focusing on the development and commercialization of innovative therapies. The company's stock is publicly traded under the ticker symbol XERS.
Investors often monitor insider transactions such as these, as they can provide insights into the confidence levels that company executives and directors have in the firm's prospects. Schmid's recent acquisition might be interpreted by the market as a positive signal regarding the company's future potential.
The details of the transaction were disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission.
InvestingPro Insights
As John P. Schmid demonstrates confidence in Xeris Biopharma Holdings by increasing his stake, investors looking for a deeper understanding of the company's financial health can turn to InvestingPro for real-time data and analysis. According to InvestingPro, Xeris Biopharma has a market capitalization of $260.93 million and a negative P/E ratio of -3.82, reflecting that the company is not currently profitable.
InvestingPro Data metrics highlight significant revenue growth for the company, with a 41.18% increase over the last twelve months as of Q1 2024. Despite this growth, the company's gross profit margin remains high at 82.9%, suggesting strong control over the cost of goods sold relative to revenue. However, the company's operating income margin is negative at -26.25%, indicating that expenses exceed operating income.
Two key InvestingPro Tips shed light on the company's financial trajectory: analysts have recently revised their earnings expectations downwards for the upcoming period, and they do not anticipate the company will be profitable this year. This context may help investors weigh the significance of insider transactions against broader financial performance.
For those seeking further insights, InvestingPro offers additional tips on Xeris Biopharma Holdings. By using coupon code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a full suite of analysis tools and data. Currently, there are five additional InvestingPro Tips available for XERS that can provide investors with a more comprehensive understanding of the company's financial position and future prospects.
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