Swiss National Bank Makes New $1.40 Million Investment in Urogen Pharma $URGN

Key Points

• Swiss National Bank acquired 77,800 Urogen Pharma shares worth approximately $1.4 million, joining other institutional investors that collectively own 91.29% of URGN.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $41.62; Oppenheimer and Guggenheim recently raised their targets to $50 and $42, respectively.
• Urogen Pharma reported quarterly revenue of $50.96 million and an adjusted loss of $0.47 per share, narrowly exceeding analyst expectations, while the stock opened at $38.24 after a reported 6.9% decline.

Swiss National Bank purchased a new stake in Urogen Pharma (NASDAQ:URGN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 77,800 shares of the company's stock, valued at approximately $1,399,000. Swiss National Bank owned approximately 0.16% of Urogen Pharma at the end of the most recent reporting period.

Several other large investors have also modified their holdings of URGN. Paradigm Biocapital Advisors LP raised its position in shares of Urogen Pharma by 6.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,473,648 shares of the company's stock worth $104,773,000 after purchasing an additional 257,564 shares during the last quarter. Morgan Stanley grew its holdings in Urogen Pharma by 1.4% during the 4th quarter. Morgan Stanley now owns 2,562,901 shares of the company's stock valued at $60,023,000 after buying an additional 34,455 shares during the last quarter. Soleus Capital Management L.P. purchased a new position in Urogen Pharma during the second quarter worth $29,934,000. SG Americas Securities LLC increased its position in Urogen Pharma by 20.3% during the first quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company's stock worth $29,808,000 after buying an additional 280,199 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Urogen Pharma in the fourth quarter valued at $26,350,000. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the company'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 transaction, the insider owned 119,763 shares of the company's stock, valued at approximately $4,790,520. This represents a 7.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,222 shares of company stock valued at $892,661 in the last ninety days. 4.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

URGN has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating on shares of Urogen Pharma in a research report on Thursday, July 9th. Oppenheimer raised their price target on shares of Urogen Pharma from $40.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Urogen Pharma in a report on Friday, July 17th. Jefferies Financial Group raised shares of Urogen Pharma to a "strong-buy" rating in a research report on Friday, April 24th. Finally, Guggenheim raised their target price on shares of Urogen Pharma from $32.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.62.

Urogen Pharma Trading Down 6.9%

NASDAQ URGN opened at $38.24 on Friday. The business's 50-day moving average price is $34.98 and its 200 day moving average price is $26.29. Urogen Pharma has a twelve month low of $15.86 and a twelve month high of $43.93. The company has a market capitalization of $1.86 billion, a PE ratio of -13.91 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million during the quarter, compared to analysts' expectations of $44.83 million. Equities analysts predict that Urogen Pharma will post -0.76 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.