Ally Bridge Group NY LLC Purchases Shares of 202,124 Urogen Pharma $URGN

Ally Bridge Group NY LLC acquired a new stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 202,124 shares of the company's stock, valued at approximately $3,634,000. Urogen Pharma makes up about 2.9% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 17th largest position. Ally Bridge Group NY LLC owned approximately 0.41% of Urogen Pharma as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its position in Urogen Pharma by 148.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 161,924 shares of the company's stock worth $3,792,000 after buying an additional 96,741 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Urogen Pharma by 20.3% during the 1st quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company's stock valued at $29,808,000 after acquiring an additional 280,199 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Urogen Pharma by 8.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 281,876 shares of the company's stock valued at $6,602,000 after acquiring an additional 22,733 shares during the last quarter. Elmind Capital LP bought a new stake in shares of Urogen Pharma during the 4th quarter worth $2,342,000. Finally, DNB Asset Management AS bought a new stake in shares of Urogen Pharma during the 4th quarter worth $397,000. Institutional investors and hedge funds own 91.29% of the company's stock.

Urogen Pharma Trading Down 1.4%

Shares of Urogen Pharma stock opened at $40.88 on Wednesday. Urogen Pharma has a 1 year low of $15.86 and a 1 year high of $43.93. The company has a market cap of $1.99 billion, a P/E ratio of -14.87 and a beta of 1.56. The stock has a 50-day moving average price of $34.37 and a 200 day moving average price of $25.95.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to analysts' expectations of $44.83 million. On average, equities analysts forecast that Urogen Pharma will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the completion of the sale, the insider directly owned 119,763 shares in the company, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,222 shares of company stock worth $892,661 in the last ninety days. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

URGN has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Oppenheimer increased their price target on Urogen Pharma from $40.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Guggenheim lifted their price target on Urogen Pharma from $32.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH assumed coverage on Urogen Pharma in a research note on Monday, May 11th. They issued a "buy" rating and a $43.00 price target on the stock. Finally, UBS Group restated a "buy" rating on shares of Urogen Pharma in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.62.

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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