17,571 Shares in Urogen Pharma (NASDAQ:URGN) Acquired by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners Ltd acquired 17,571 shares of Urogen Pharma, valued at approximately $194,000, during the first quarter of the year.
• Urogen Pharma's stock has seen a 2.8% increase recently, with a current price of $18.24, while the company's market cap stands at $843.78 million.
• Urogen Pharma reported a quarterly earnings loss of ($1.05) per share, which missed analysts' expectations, highlighting ongoing financial challenges despite a revenue of $24.22 million for the quarter.

Persistent Asset Partners Ltd purchased a new position in Urogen Pharma (NASDAQ:URGN - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 17,571 shares of the company's stock, valued at approximately $194,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC grew its holdings in shares of Urogen Pharma by 6,047.1% during the 1st quarter. CWM LLC now owns 5,225 shares of the company's stock valued at $58,000 after purchasing an additional 5,140 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Urogen Pharma in the 4th quarter worth approximately $67,000. GAMMA Investing LLC grew its position in Urogen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock worth $83,000 after purchasing an additional 7,392 shares during the period. Aquatic Capital Management LLC bought a new stake in Urogen Pharma in the 4th quarter worth approximately $101,000. Finally, ProShare Advisors LLC purchased a new position in Urogen Pharma during the fourth quarter valued at approximately $137,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Urogen Pharma Stock Up 2.8%

Shares of URGN opened at $18.24 on Tuesday. Urogen Pharma has a 52-week low of $3.42 and a 52-week high of $21.01. The firm's fifty day moving average is $14.32 and its two-hundred day moving average is $11.41. The stock has a market cap of $843.78 million, a PE ratio of -5.49 and a beta of 1.12.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.23). Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%. The company had revenue of $24.22 million for the quarter, compared to analysts' expectations of $23.06 million. As a group, research analysts anticipate that Urogen Pharma will post -3.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on URGN shares. The Goldman Sachs Group set a $16.00 price target on shares of Urogen Pharma and gave the stock a "neutral" rating in a research report on Friday, June 13th. Scotiabank reiterated an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. HC Wainwright cut their price objective on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday. Guggenheim restated a "buy" rating and issued a $30.00 price target (up from $15.00) on shares of Urogen Pharma in a report on Friday, June 13th. Finally, Oppenheimer set a $31.00 price target on shares of Urogen Pharma and gave the stock a "buy" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $31.43.

Insider Activity

In other news, General Counsel Jason Drew Smith sold 7,522 shares of the business's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $19.14, for a total transaction of $143,971.08. Following the completion of the transaction, the general counsel directly owned 41,492 shares of the company's stock, valued at approximately $794,156.88. The trade was a 15.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Schoenberg sold 5,149 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $19.14, for a total value of $98,551.86. Following the completion of the transaction, the insider directly owned 158,229 shares of the company's stock, valued at $3,028,503.06. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,833 shares of company stock worth $280,567. 4.70% of the stock is owned by insiders.

Urogen Pharma Company Profile

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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