Urogen Pharma $URGN Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its UroGen Pharma stake by 98.2% in the second quarter, leaving the fund with 874 shares valued at approximately $32,000. Despite the sale, institutional investors and hedge funds own 91.29% of the company.
• Several institutions initiated or increased positions, including Jefferies Financial Group, which acquired roughly $80.9 million in shares, while company insiders sold 83,067 shares worth about $3.7 million over the past quarter.
• UroGen reported quarterly revenue of $72.46 million, above expectations, but its loss of $0.28 per share missed estimates. Analysts remain generally positive, with eight Buy ratings and an average price target of $52.38 versus the stock’s $42.31 opening price.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Urogen Pharma (NASDAQ:URGN - Free Report) by 98.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 874 shares of the company's stock after selling 46,545 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Urogen Pharma were worth $32,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of URGN. Wellington Management Group LLP boosted its position in Urogen Pharma by 15.1% during the 2nd quarter. Wellington Management Group LLP now owns 115,362 shares of the company's stock valued at $4,245,000 after purchasing an additional 15,147 shares during the period. Palo Alto Investors LP bought a new stake in Urogen Pharma during the second quarter worth approximately $901,600. Coastal Bridge Advisors LLC bought a new stake in shares of Urogen Pharma in the 2nd quarter worth $1,362,000. Jefferies Financial Group Inc. bought a new stake in Urogen Pharma in the second quarter worth about $80,947,000. Finally, Bank of America Corp DE acquired a new stake in Urogen Pharma in the 2nd quarter valued at about $17,506,000. 91.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 871 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $42.92, for a total value of $37,383.32. Following the completion of the sale, the insider directly owned 59,882 shares of the company's stock, valued at $2,570,135.44. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Jason Smith sold 1,519 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.54, for a total transaction of $64,618.26. Following the completion of the sale, the general counsel owned 53,141 shares of the company's stock, valued at $2,260,618.14. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 83,067 shares of company stock valued at $3,706,954 over the last quarter. Corporate insiders own 4.80% of the company's stock.

Urogen Pharma Price Performance

NASDAQ:URGN opened at $42.31 on Monday. The stock has a market cap of $2.07 billion, a PE ratio of -21.37 and a beta of 1.57. The stock's 50-day moving average is $43.33 and its two-hundred day moving average is $31.61. Urogen Pharma has a fifty-two week low of $15.86 and a fifty-two week high of $50.81.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to the consensus estimate of $63.55 million. On average, equities research analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

URGN has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Urogen Pharma in a research note on Friday, July 17th. TD Cowen increased their target price on shares of Urogen Pharma from $50.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Guggenheim raised their target price on shares of Urogen Pharma from $42.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Jefferies Financial Group restated a "buy" rating and issued a $56.00 price target on shares of Urogen Pharma in a research report on Thursday. Finally, Oppenheimer upped their price target on Urogen Pharma from $40.00 to $50.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $52.38.

Urogen Pharma Profile

UroGen Pharma Ltd. is a biopharmaceutical company focused on developing and commercializing therapies for cancers of the urinary tract. The company uses its proprietary RTGel reverse-thermal hydrogel technology to provide sustained delivery of medicines directly to affected tissues.

UroGen's primary commercial product is JELMYTO (mitomycin), a gel-based formulation approved in the United States for the treatment of adults with low-grade upper tract urothelial cancer. The company's pipeline has also included UGN-102, an investigational formulation of mitomycin being developed for patients with low-grade, intermediate-risk non-muscle-invasive bladder cancer.

Founded in 2004, UroGen is headquartered in Princeton, New Jersey, and primarily serves the U.S.

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