Persistent Asset Partners Ltd Acquires New Shares in Urogen Pharma (NASDAQ:URGN)

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 bought a new stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,571 shares of the company's stock, valued at approximately $194,000.

A number of other large investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Urogen Pharma by 4.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,667 shares of the company's stock worth $231,000 after acquiring an additional 969 shares during the period. Rhumbline Advisers raised its position in shares of Urogen Pharma by 4.3% in the first quarter. Rhumbline Advisers now owns 53,466 shares of the company's stock worth $591,000 after acquiring an additional 2,196 shares during the period. MetLife Investment Management LLC raised its position in shares of Urogen Pharma by 13.6% in the fourth quarter. MetLife Investment Management LLC now owns 22,766 shares of the company's stock worth $242,000 after acquiring an additional 2,727 shares during the period. Legal & General Group Plc raised its position in shares of Urogen Pharma by 24.6% in the fourth quarter. Legal & General Group Plc now owns 19,845 shares of the company's stock worth $211,000 after acquiring an additional 3,920 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Urogen Pharma by 9.3% in the fourth quarter. Ameriprise Financial Inc. now owns 49,153 shares of the company's stock worth $523,000 after acquiring an additional 4,188 shares during the period. Institutional investors and hedge funds own 91.29% of the company's stock.

Insider Activity

In related news, General Counsel Jason Drew Smith sold 7,522 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $19.14, for a total transaction of $143,971.08. Following the completion of the sale, the general counsel owned 41,492 shares of the company's stock, valued at approximately $794,156.88. This represents a 15.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Schoenberg sold 10,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $17.69, for a total transaction of $176,900.00. Following the sale, the insider directly owned 148,229 shares of the company's stock, valued at approximately $2,622,171.01. This represents a 6.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,833 shares of company stock valued at $457,467. 4.70% of the stock is owned by corporate insiders.

Urogen Pharma Price Performance

NASDAQ URGN traded down $0.37 during trading hours on Friday, hitting $19.71. 684,044 shares of the company's stock traded hands, compared to its average volume of 1,350,729. Urogen Pharma has a 52-week low of $3.42 and a 52-week high of $21.01. The company has a market capitalization of $911.86 million, a PE ratio of -5.94 and a beta of 1.12. The firm's 50-day moving average is $15.46 and its 200-day moving average is $11.65.

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

Analyst Upgrades and Downgrades

URGN has been the subject of a number of analyst reports. D. Boral Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of Urogen Pharma in a research report on Tuesday, August 5th. HC Wainwright reduced their price target on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Scotiabank restated an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. Oppenheimer set a $31.00 price target on shares of Urogen Pharma and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $31.43.

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.