Truist Financial Corp Invests $423,000 in Urogen Pharma $URGN

Key Points

• Truist Financial Corp has invested approximately $423,000 in Urogen Pharma by acquiring 30,850 shares, representing about 0.07% of the company.
• Multiple institutional investors have significantly increased their holdings in Urogen Pharma, with GAMMA Investing LLC boosting its stake by 6,908.4% in the first quarter.
• Urogen Pharma's stock has a consensus rating of "Moderate Buy" from analysts, with an average price target of $32.00.

Truist Financial Corp bought a new stake in Urogen Pharma (NASDAQ:URGN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 30,850 shares of the company's stock, valued at approximately $423,000. Truist Financial Corp owned about 0.07% of Urogen Pharma at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of URGN. GAMMA Investing LLC boosted its holdings in shares of Urogen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock valued at $83,000 after buying an additional 7,392 shares in the last quarter. Rhumbline Advisers lifted its position in Urogen Pharma by 4.3% during the first quarter. Rhumbline Advisers now owns 53,466 shares of the company's stock valued at $591,000 after acquiring an additional 2,196 shares during the last quarter. CWM LLC lifted its position in Urogen Pharma by 6,047.1% during the first quarter. CWM LLC now owns 5,225 shares of the company's stock valued at $58,000 after acquiring an additional 5,140 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Urogen Pharma by 14.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 786,472 shares of the company's stock valued at $8,698,000 after acquiring an additional 100,000 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Urogen Pharma by 32.6% during the first quarter. ARK Investment Management LLC now owns 185,790 shares of the company's stock worth $2,055,000 after purchasing an additional 45,642 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

Insider Transactions at Urogen Pharma

In related news, General Counsel Jason Drew Smith sold 1,520 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $19.11, for a total value of $29,047.20. Following the completion of the transaction, the general counsel owned 43,305 shares of the company's stock, valued at approximately $827,558.55. This represents a 3.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Schoenberg sold 10,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $17.69, for a total value of $176,900.00. Following the completion of the sale, the insider owned 148,229 shares of the company's stock, valued at $2,622,171.01. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,265 shares of company stock valued at $502,236 in the last ninety days. 4.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on URGN shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Urogen Pharma in a report on Wednesday, October 8th. Piper Sandler started coverage on shares of Urogen Pharma in a research report on Monday, August 18th. They issued an "overweight" rating and a $36.00 price objective for the company. D. Boral Capital reissued a "buy" rating and set a $25.00 price objective on shares of Urogen Pharma in a report on Friday, October 3rd. HC Wainwright lowered their price target on Urogen Pharma from $50.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen raised Urogen Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Urogen Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Urogen Pharma Trading Down 2.1%

Shares of NASDAQ:URGN opened at $16.93 on Friday. The company has a market capitalization of $783.18 million, a PE ratio of -5.10 and a beta of 1.00. The business has a 50 day moving average of $18.55 and a two-hundred day moving average of $14.00. Urogen Pharma has a 12-month low of $3.42 and a 12-month high of $21.71.

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

About Urogen Pharma

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.

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