Chris Degnan Sells 2,203 Shares of Urogen Pharma (NASDAQ:URGN) Stock

Key Points

• CFO Chris Degnan of Urogen Pharma sold 2,203 shares of the company's stock at an average price of $16.85, reducing his ownership by 49.14%.
• The stock price of Urogen Pharma dropped by 5.3% to $16.42, while the company reported a negative EPS of ($1.05), missing analysts' expectations.
• Urogen Pharma has received various analysts’ ratings, with price targets ranging up to $40.00 and a consensus rating of "Moderate Buy."

Urogen Pharma (NASDAQ:URGN - Get Free Report) CFO Chris Degnan sold 2,203 shares of the firm's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $16.85, for a total value of $37,120.55. Following the completion of the transaction, the chief financial officer owned 2,280 shares in the company, valued at approximately $38,418. This trade represents a 49.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Urogen Pharma Trading Down 5.3%

Shares of Urogen Pharma stock traded down $0.91 during trading hours on Thursday, reaching $16.42. The stock had a trading volume of 1,030,183 shares, compared to its average volume of 1,489,745. The firm has a 50 day simple moving average of $18.89 and a two-hundred day simple moving average of $13.78. The firm has a market capitalization of $759.59 million, a price-to-earnings ratio of -4.95 and a beta of 1.00. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $21.71.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23). The firm had revenue of $24.22 million during the quarter, compared to analysts' expectations of $23.06 million. Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%. Sell-side analysts forecast that Urogen Pharma will post -3.12 EPS for the current year.

Analysts Set New Price Targets

URGN has been the topic of a number of research reports. The Goldman Sachs Group set a $16.00 price objective on Urogen Pharma and gave the stock a "neutral" rating in a report on Friday, June 13th. Piper Sandler assumed coverage on Urogen Pharma in a research note on Monday, August 18th. They issued an "overweight" rating and a $36.00 target price for the company. HC Wainwright lowered their target price on Urogen Pharma from $50.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Guggenheim reiterated a "buy" rating and issued a $30.00 target price (up previously from $15.00) on shares of Urogen Pharma in a research note on Friday, June 13th. Finally, Oppenheimer set a $31.00 target price on Urogen Pharma and gave the company a "buy" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. RA Capital Management L.P. bought a new stake in shares of Urogen Pharma in the 1st quarter worth approximately $35,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Urogen Pharma by 216.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company's stock worth $48,227,000 after purchasing an additional 2,983,368 shares during the last quarter. Soleus Capital Management L.P. bought a new stake in shares of Urogen Pharma in the 2nd quarter worth approximately $29,934,000. SG Americas Securities LLC lifted its holdings in shares of Urogen Pharma by 607.1% in the 2nd quarter. SG Americas Securities LLC now owns 1,149,081 shares of the company's stock worth $15,742,000 after purchasing an additional 986,567 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Urogen Pharma by 32.1% in the 1st quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company's stock worth $23,812,000 after purchasing an additional 522,957 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

About Urogen Pharma

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.

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