California State Teachers Retirement System Grows Stock Holdings in Urogen Pharma $URGN

Key Points

• California State Teachers Retirement System increased its Urogen Pharma stake by 1,605.5% in the first quarter to 38,750 shares valued at approximately $697,000. Institutional investors collectively own 91.29% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $48.78; recent targets range from $43 to $75.
• Urogen reported quarterly revenue of $72.46 million, above estimates, but its loss of $0.28 per share was slightly worse than expected. The stock opened at $48.22, near its 52-week high of $49.67, while insiders sold 25,222 shares worth $892,661 during the past quarter.

California State Teachers Retirement System grew its position in shares of Urogen Pharma (NASDAQ:URGN - Free Report) by 1,605.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,750 shares of the company's stock after acquiring an additional 36,478 shares during the period. California State Teachers Retirement System owned about 0.08% of Urogen Pharma worth $697,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Urogen Pharma by 27.2% in 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 during the last quarter. Russell Investments Group Ltd. raised its stake in Urogen Pharma by 1,594.4% in the third 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. Osaic Holdings Inc. raised its stake in Urogen Pharma by 491.2% in the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock worth $50,000 after buying an additional 3,070 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Urogen Pharma by 422.0% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company's stock worth $94,000 after buying an additional 5,571 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in Urogen Pharma in the fourth quarter worth about $206,000. 91.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on URGN shares. LADENBURG THALM/SH SH assumed coverage on Urogen Pharma in a research report on Monday, May 11th. They set a "buy" rating and a $43.00 price target on the stock. 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 report on Thursday, August 6th. Jefferies Financial Group raised Urogen Pharma to a "strong-buy" rating in a research note on Friday, April 24th. TD Cowen upped their target price on shares of Urogen Pharma from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, HC Wainwright raised their price target on shares of Urogen Pharma from $45.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.78.

Insider Activity

In related news, insider Mark Schoenberg sold 10,000 shares of the business'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. The trade was a 7.71% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,222 shares of company stock valued at $892,661 over the last quarter. Company insiders own 4.80% of the company's stock.

Urogen Pharma Stock Performance

URGN stock opened at $48.22 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of -24.35 and a beta of 1.57. The company has a fifty day moving average price of $38.53 and a 200-day moving average price of $28.11. Urogen Pharma has a 52-week low of $15.86 and a 52-week high of $49.67.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The company had revenue of $72.46 million during the quarter, compared to analyst estimates of $63.55 million. As a group, sell-side analysts forecast that Urogen Pharma will post -0.2 earnings per share for the current fiscal year.

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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