ADAR1 Capital Management LLC Boosts Stock Position in Urogen Pharma $URGN

Key Points

• ADAR1 Capital Management increased its Urogen Pharma stake by 139.1% in the first quarter, acquiring 230,084 additional shares and bringing its holdings to 395,459 shares valued at approximately $7.1 million. Institutional investors collectively own 91.29% of the company.
• Urogen Pharma reported quarterly revenue of $50.96 million, exceeding analyst expectations of $44.83 million, while its adjusted loss of $0.47 per share was slightly better than estimates.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $41.62. The stock recently opened at $40.88, near its 52-week high of $43.93.

ADAR1 Capital Management LLC raised its holdings in Urogen Pharma (NASDAQ:URGN - Free Report) by 139.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,459 shares of the company's stock after acquiring an additional 230,084 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.81% of Urogen Pharma worth $7,110,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Urogen Pharma by 1,605.5% during the first quarter. California State Teachers Retirement System now owns 38,750 shares of the company's stock worth $697,000 after purchasing an additional 36,478 shares during the last quarter. Elmind Capital LP increased its stake in Urogen Pharma by 120.0% in the 1st quarter. Elmind Capital LP now owns 220,000 shares of the company's stock worth $3,956,000 after buying an additional 120,000 shares during the period. Rice Hall James & Associates LLC lifted its holdings in Urogen Pharma by 1.4% during the 1st quarter. Rice Hall James & Associates LLC now owns 285,834 shares of the company's stock valued at $5,139,000 after buying an additional 3,958 shares in the last quarter. Swiss National Bank bought a new stake in Urogen Pharma during the 1st quarter valued at about $1,399,000. Finally, SG Americas Securities LLC boosted its position in Urogen Pharma by 20.3% in the 1st quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company's stock valued at $29,808,000 after buying an additional 280,199 shares during the period. Hedge funds and other institutional investors own 91.29% of the company's stock.

Urogen Pharma Stock Down 1.4%

Shares of URGN stock opened at $40.88 on Wednesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -14.87 and a beta of 1.56. Urogen Pharma has a 52-week low of $15.86 and a 52-week high of $43.93. The company's 50 day moving average is $34.37 and its 200 day moving average is $25.95.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, topping analysts' consensus estimates of ($0.48) by $0.01. The company had revenue of $50.96 million for the quarter, compared to analysts' expectations of $44.83 million. Analysts anticipate that Urogen Pharma will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at Urogen Pharma

In other news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total value of $400,000.00. Following the transaction, the insider owned 119,763 shares of the company's stock, valued at $4,790,520. The trade was a 7.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 25,222 shares of company stock valued at $892,661. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on URGN. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $44.00 target price on shares of Urogen Pharma in a research report on Wednesday, July 15th. D. Boral Capital reissued a "buy" rating and issued a $33.00 price objective on shares of Urogen Pharma in a research note on Tuesday, March 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Urogen Pharma in a report on Friday, July 17th. Jefferies Financial Group raised Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. Finally, Guggenheim upped their target price on Urogen Pharma from $32.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.62.

Urogen Pharma Company Profile

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra'anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company's lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.

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