ADAR1 Capital Management LLC Buys New Position in Urogen Pharma $URGN

ADAR1 Capital Management LLC bought a new stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 252,395 shares of the company's stock, valued at approximately $9,288,000. ADAR1 Capital Management LLC owned 0.52% of Urogen Pharma as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new stake in Urogen Pharma in the second quarter worth approximately $66,000. Quantbot Technologies LP acquired a new position in Urogen Pharma in the second quarter valued at approximately $78,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Urogen Pharma by 27.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,275 shares of the company's stock worth $53,000 after buying an additional 486 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Urogen Pharma by 1,594.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company's stock worth $66,000 after buying an additional 3,125 shares in the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Urogen Pharma by 491.2% during the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock worth $50,000 after buying an additional 3,070 shares during the period. Institutional investors own 91.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Cowen lifted their price objective on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. UBS Group reissued a "buy" rating on shares of Urogen Pharma in a research note on Thursday, July 9th. The Goldman Sachs Group restated a "neutral" rating and issued a $44.00 price target on shares of Urogen Pharma in a report on Wednesday, July 15th. Guggenheim lifted their price target on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, HC Wainwright upped their price objective on shares of Urogen Pharma from $45.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Urogen Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $50.38.

Urogen Pharma Stock Up 0.4%

Shares of URGN opened at $46.36 on Wednesday. The business's fifty day moving average is $41.11 and its 200 day moving average is $29.51. Urogen Pharma has a 12-month low of $15.86 and a 12-month high of $50.81. The stock has a market cap of $2.27 billion, a P/E ratio of -23.41 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to analysts' expectations of $63.55 million. On average, analysts expect that Urogen Pharma will post -0.2 EPS for the current year.

Insider Activity

In related news, insider Mark Schoenberg sold 60,677 shares of Urogen Pharma stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $47.05, for a total transaction of $2,854,852.85. Following the transaction, the insider owned 59,086 shares of the company's stock, valued at $2,779,996.30. The trade was a 50.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 85,899 shares of company stock worth $3,747,513 over the last 90 days. 4.80% of the stock is owned by insiders.

Urogen Pharma 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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