Oak Ridge Investments LLC Raises Stake in Urogen Pharma $URGN

Key Points

• Oak Ridge Investments LLC has increased its position in Urogen Pharma by 20.5% during the first quarter, now owning 73,704 shares worth $815,000.
• Several hedge funds have also recently invested in Urogen Pharma, with institutional investors collectively owning 91.29% of the company's stock.
• Urogen Pharma reported a net earnings miss for the last quarter, posting ($1.05) earnings per share, below the consensus estimate of ($0.82).

Oak Ridge Investments LLC grew its stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) by 20.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,704 shares of the company's stock after acquiring an additional 12,539 shares during the period. Oak Ridge Investments LLC owned about 0.16% of Urogen Pharma worth $815,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of URGN. Persistent Asset Partners Ltd bought a new position in Urogen Pharma in the first quarter worth approximately $194,000. Nuveen LLC bought a new position in Urogen Pharma in the first quarter worth approximately $1,028,000. Privium Fund Management B.V. raised its stake in Urogen Pharma by 288.7% in the first quarter. Privium Fund Management B.V. now owns 107,622 shares of the company's stock worth $1,190,000 after buying an additional 79,931 shares in the last quarter. XTX Topco Ltd raised its stake in Urogen Pharma by 39.3% in the first quarter. XTX Topco Ltd now owns 25,967 shares of the company's stock worth $287,000 after buying an additional 7,326 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Urogen Pharma by 32.6% in the first quarter. ARK Investment Management LLC now owns 185,790 shares of the company's stock worth $2,055,000 after buying an additional 45,642 shares in the last quarter. Institutional investors own 91.29% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Jason Drew Smith sold 7,522 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $19.14, for a total transaction of $143,971.08. Following the completion of the transaction, the general counsel owned 41,492 shares of the company's stock, valued at approximately $794,156.88. This trade represents a 15.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Schoenberg sold 10,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $17.69, for a total transaction of $176,900.00. Following the transaction, the insider directly owned 148,229 shares of the company's stock, valued at $2,622,171.01. The trade was a 6.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,833 shares of company stock valued at $457,467 in the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

URGN has been the topic of several analyst reports. D. Boral Capital reaffirmed a "buy" rating and issued a $25.00 price target on shares of Urogen Pharma in a report on Tuesday, August 5th. Oppenheimer set a $31.00 price target on shares of Urogen Pharma and gave the stock a "buy" rating in a report on Friday, June 13th. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a report on Friday, June 13th. HC Wainwright cut their price target on shares of Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Piper Sandler initiated coverage on shares of Urogen Pharma in a report on Monday. They issued an "overweight" rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $32.00.

Urogen Pharma Stock Performance

Shares of URGN traded down $0.3420 during mid-day trading on Tuesday, hitting $19.0580. 417,684 shares of the company were exchanged, compared to its average volume of 1,557,895. Urogen Pharma has a 1-year low of $3.42 and a 1-year high of $21.01. The stock has a market cap of $881.70 million, a price-to-earnings ratio of -5.77 and a beta of 1.12. The company has a 50 day moving average of $15.70 and a 200-day moving average of $11.72.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.23). Urogen Pharma had a negative net margin of 164.44% and a negative return on equity of 97,487.15%. The business had revenue of $24.22 million for the quarter, compared to analysts' expectations of $23.06 million. Research analysts anticipate that Urogen Pharma will post -3.12 earnings per share for the current fiscal year.

Urogen Pharma Profile

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization of solutions for urothelial and specialty cancers. It offers RTGel, a novel proprietary polymeric biocompatible, reverse thermal gelation hydrogel technology to improve therapeutic profiles of existing drugs; and Jelmyto for pyelocalyceal solution.