Xeris Biopharma Holdings, Inc.
XERS · Pharmaceutical Preparations · 172.6M shares · +20%/yr ↑ dilution · EDGAR filings ↗
Reference price $6.09 · est. market cap ~$1.1B — last insider sale, 2026-06-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Commercial biopharma (Gvoke/Recorlev/Keveyis) — near profitability with positive operating cash flow, but very high leverage.
Strengths
- Near profitability, positive OCF — operating margin 9% (80th), ROA 0% (86th), OCF margin 10%
Risks
- Very high leverage — D/E 16.1 (100th)
- Thin net margin — 0%
- Product-concentration/competition risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 16.10)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +20%/yr over 3y (dilution, book value/share -83%)
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 14 open-market sale(s) by 8 insider(s) (cluster of 8 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
8.5%
Net margin
0.2%
Return on equity
4.0%
Return on assets
0.1%
ROIC
8.4%
Revenue growth (QoQ)
-3.1%
Debt / equity
16.1×
Net debt / EBITDA
4.2×
Current ratio
2.2×
EBITDA
$26M
Tangible book value
-$97M
Cash & investments
$111M
Stock comp / revenue
7.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-04 | Brady James Aloysius | Grant | 24K | — |
| 2026-06-04 | Kong Garheng | Grant | 24K | — |
| 2026-06-04 | JOHNSON JOHN | Sell | 15K | $6.09 |
| 2026-06-04 | JOHNSON JOHN | Grant | 24K | — |
| 2026-06-04 | PERSKY MARLA | Grant | 24K | — |
| 2026-06-04 | HALKUFF DAWN | Sell | 20K | $6.09 |
| 2026-06-04 | HALKUFF DAWN | Grant | 24K | — |
| 2026-06-04 | BORMANN-KENNEDY BARBARA-JEAN ANNE | Sell | 16K | $6.09 |
| 2026-06-04 | BORMANN-KENNEDY BARBARA-JEAN ANNE | Grant | 24K | — |
| 2026-06-03 | PERSKY MARLA | Sell | 16K | $5.90 |
| 2026-06-01 | Hecht Beth | Sell | 17K | $6.06 |
| 2026-05-01 | Hecht Beth | Sell | 17K | $6.23 |
| 2026-04-01 | Hecht Beth | Sell | 17K | $5.99 |
| 2026-03-30 | Brady James Aloysius | Sell | 11K | $5.54 |
| 2026-03-12 | McCulloch Kevin | Option exercise | 49K | $4.09 |
| 2026-03-12 | McCulloch Kevin | Option exercise | 4 | $3.94 |
| 2026-03-05 | Pieper Steven | Option exercise | 28K | $4.09 |
| 2026-03-05 | Pieper Steven | Option exercise | 14K | $5.93 |
| 2026-03-02 | Hecht Beth | Sell | 17K | $6.24 |
| 2026-03-02 | Hecht Beth | Sell | 100 | $7.06 |
| 2026-02-24 | Nguyen Anh Tu | Tax withheld | 29K | $6.88 |
| 2026-02-02 | Hecht Beth | Sell | 17K | $7.45 |
| 2026-01-31 | Pieper Steven | Tax withheld | 112K | $7.36 |
| 2026-01-31 | McCulloch Kevin | Tax withheld | 68K | $7.36 |
| 2026-01-31 | McCulloch Kevin | Tax withheld | 30K | $7.36 |
| 2026-01-31 | McCulloch Kevin | Tax withheld | 27K | $7.36 |
| 2026-01-31 | Pieper Steven | Tax withheld | 66K | $7.36 |
| 2026-01-31 | Pieper Steven | Tax withheld | 27K | $7.36 |
| 2026-01-31 | Hecht Beth | Tax withheld | 98K | $7.36 |
| 2026-01-31 | Hecht Beth | Tax withheld | 47K | $7.36 |
| 2026-01-31 | Hecht Beth | Tax withheld | 24K | $7.36 |
| 2026-01-31 | Shannon John Patrick Jr | Tax withheld | 118K | $7.36 |
| 2026-01-31 | Shannon John Patrick Jr | Tax withheld | 112K | $7.36 |
| 2026-01-31 | Shannon John Patrick Jr | Tax withheld | 111K | $7.36 |
| 2026-01-30 | Nguyen Anh Tu | Grant | 121K | — |
| 2026-01-30 | Hecht Beth | Grant | 121K | — |
| 2026-01-30 | Pieper Steven | Grant | 155K | — |
| 2026-01-30 | McCulloch Kevin | Grant | 168K | — |
| 2026-01-30 | Shannon John Patrick Jr | Grant | 478K | — |
| 2026-01-08 | McCulloch Kevin | Sell | 15K | $8.00 |
| 2026-01-05 | Shannon John Patrick Jr | Option exercise | 64K | $1.55 |
| 2026-01-05 | Shannon John Patrick Jr | Option exercise | 25K | $1.55 |
| 2026-01-05 | Shannon John Patrick Jr | Option exercise | 2.9K | $3.94 |
| 2026-01-05 | Shannon John Patrick Jr | Sell | 25K | $7.08 |
| 2026-01-02 | Hecht Beth | Sell | 17K | $7.43 |
| 2025-12-19 | JOHNSON JOHN | Sell | 135K | $7.22 |
| 2025-12-12 | BORMANN-KENNEDY BARBARA-JEAN ANNE | Sell | 15K | $7.09 |
| 2025-12-01 | Hecht Beth | Sell | 17K | $7.01 |
| 2025-11-14 | Shannon John Patrick Jr | Option exercise | 87K | $1.55 |
| 2025-11-13 | Shannon John Patrick Jr | Option exercise | 9.0K | $1.55 |
| 2025-11-13 | Shannon John Patrick Jr | Sell | 23K | $7.46 |
| 2025-11-11 | Hecht Beth | Sell | 17K | $7.40 |
| 2025-10-02 | McCulloch Kevin | Tax withheld | 733 | $8.31 |
| 2025-09-11 | McCulloch Kevin | Other | 2.0K | — |
| 2025-09-11 | PERSKY MARLA | Sell | 16K | $7.72 |
| 2025-08-28 | SHERMAN JEFFREY W | Option exercise | 47K | $6.66 |
| 2025-08-28 | SHERMAN JEFFREY W | Sell | 42K | $7.92 |
| 2025-08-13 | JOHNSON JOHN | Sell | 108K | $7.32 |
| 2025-08-12 | HALKUFF DAWN | Sell | 42K | $7.28 |
| 2025-08-01 | Shannon John Patrick Jr | Tax withheld | 37K | $5.38 |
| 2025-08-01 | McCulloch Kevin | Tax withheld | 15K | $5.38 |
| 2025-06-13 | McCulloch Kevin | Buy | 25K | $4.38 |
| 2025-06-04 | BORMANN-KENNEDY BARBARA-JEAN ANNE | Grant | 50K | — |
| 2025-06-04 | PERSKY MARLA | Grant | 50K | — |
| 2025-06-04 | HALKUFF DAWN | Grant | 50K | — |
| 2025-06-04 | SHERMAN JEFFREY W | Grant | 50K | — |
| 2025-06-04 | JOHNSON JOHN | Grant | 50K | — |
| 2025-06-04 | Kong Garheng | Grant | 50K | — |
| 2025-04-02 | McCulloch Kevin | Tax withheld | 733 | $5.15 |
| 2025-03-28 | Brady James Aloysius | Grant | 100K | — |
| 2025-03-20 | Hecht Beth | Sell | 40K | $5.43 |
| 2025-01-31 | McCulloch Kevin | Tax withheld | 29K | $3.56 |
| 2025-01-31 | McCulloch Kevin | Tax withheld | 49K | $3.56 |
| 2025-01-31 | McCulloch Kevin | Grant | 185K | — |
| 2025-01-31 | Shannon John Patrick Jr | Tax withheld | 111K | $3.56 |
| 2025-01-31 | Shannon John Patrick Jr | Tax withheld | 111K | $3.56 |
| 2025-01-31 | Shannon John Patrick Jr | Grant | 800K | — |
| 2025-01-31 | Hecht Beth | Tax withheld | 46K | $3.56 |
| 2025-01-31 | Hecht Beth | Tax withheld | 98K | $3.56 |
| 2025-01-31 | Hecht Beth | Grant | 185K | — |
| 2025-01-31 | Pieper Steven | Tax withheld | 111K | $3.56 |
| 2025-01-31 | Pieper Steven | Tax withheld | 66K | $3.56 |
| 2025-01-31 | Pieper Steven | Grant | 185K | — |
| 2025-01-31 | JOHNSON KENNETH ERLAND | Tax withheld | 15K | $3.56 |
| 2025-01-31 | JOHNSON KENNETH ERLAND | Tax withheld | 26K | $3.56 |
| 2025-01-03 | Shannon John Patrick Jr | Tax withheld | 39K | $3.61 |
| 2025-01-03 | McCulloch Kevin | Tax withheld | 25K | $3.61 |
| 2025-01-03 | JOHNSON KENNETH ERLAND | Tax withheld | 12K | $3.61 |
| 2025-01-03 | Pieper Steven | Tax withheld | 32K | $3.61 |
| 2025-01-03 | Hecht Beth | Tax withheld | 32K | $3.61 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-11 | 2026-06-10 | 0001867096-26-000045 ↗ |
| 8-K | 2026-06-05 | 2026-06-04 | 0001867096-26-000034 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001867096-26-000030 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001867096-26-000027 ↗ |
| 8-K | 2026-04-21 | 2026-04-20 | 0001867096-26-000020 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001867096-26-000012 ↗ |
| 10-K | 2026-03-02 | 2025-12-31 | 0001867096-26-000016 ↗ |
| 8-K | 2026-02-27 | 2026-02-26 | 0001867096-26-000010 ↗ |
| 8-K | 2026-01-08 | 2026-01-08 | 0001867096-26-000004 ↗ |
| 8-K | 2025-12-01 | 2025-12-01 | 0001867096-25-000161 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001867096-25-000156 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001867096-25-000159 ↗ |