Legal & General Group Plc Invests $1.32 Million in Urogen Pharma $URGN

Key Points

• Legal & General acquired 35,830 Urogen Pharma shares worth approximately $1.32 million in the second quarter, joining other institutional investors that increased their positions. Institutions and hedge funds now own 91.29% of the company.
• Urogen reported quarterly revenue of $72.46 million, above the $63.55 million consensus estimate, but its adjusted loss of $0.28 per share missed expectations by $0.02. The stock opened at $44.09, near its 12-month high of $50.81.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $50.38; several firms recently raised their targets, including HC Wainwright to $75.00. However, insiders have sold 80,677 shares worth about $3.60 million over the past 90 days.

Legal & General Group Plc purchased a new position in shares of Urogen Pharma (NASDAQ:URGN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,830 shares of the company's stock, valued at approximately $1,319,000. Legal & General Group Plc owned about 0.07% of Urogen Pharma at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Urogen Pharma by 347.5% in the first quarter. AQR Capital Management LLC now owns 114,066 shares of the company's stock valued at $1,262,000 after acquiring an additional 88,577 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Urogen Pharma by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company's stock worth $258,000 after acquiring an additional 1,653 shares during the period. Jane Street Group LLC raised its position in shares of Urogen Pharma by 94.3% during the 1st quarter. Jane Street Group LLC now owns 51,177 shares of the company's stock valued at $566,000 after acquiring an additional 24,839 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Urogen Pharma during the 2nd quarter valued at $361,000. Finally, JPMorgan Chase & Co. raised its position in shares of Urogen Pharma by 5.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 390,364 shares of the company's stock valued at $5,348,000 after acquiring an additional 19,405 shares during the last quarter. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Urogen Pharma news, insider Mark Schoenberg sold 60,677 shares of the business's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $47.05, for a total value of $2,854,852.85. Following the completion of the transaction, the insider directly owned 59,086 shares of the company's stock, valued at approximately $2,779,996.30. The trade was a 50.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 80,677 shares of company stock worth $3,604,953 in the last 90 days. Insiders own 4.80% of the company's stock.

Urogen Pharma Stock Performance

URGN opened at $44.09 on Monday. The firm's fifty day moving average is $42.72 and its two-hundred day moving average is $30.83. The firm has a market cap of $2.16 billion, a PE ratio of -22.27 and a beta of 1.57. Urogen Pharma has a twelve month low of $15.86 and a twelve month high of $50.81.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. Equities analysts forecast that Urogen Pharma will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on URGN. TD Cowen raised their price target on Urogen Pharma from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH initiated coverage on Urogen Pharma in a report on Monday, May 11th. They issued a "buy" rating and a $43.00 price objective for the company. HC Wainwright increased their target price on Urogen Pharma from $45.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Guggenheim raised their target price on Urogen Pharma from $42.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Oppenheimer boosted their target price on Urogen Pharma from $40.00 to $50.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. One investment 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. Based on data from MarketBeat.com, Urogen Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $50.38.

About Urogen Pharma

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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