Urogen Pharma $URGN Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Urogen Pharma by 56.4%, owning 1,277,000 shares valued at approximately $14.12 million after selling over 1.6 million shares in the first quarter.
• Insiders have been selling Urogen Pharma stock, including General Counsel Jason Drew Smith and insider Mark Schoenberg, who collectively sold over 17,000 shares, leading to a decrease in their ownership positions.
• Urogen Pharma reported a quarterly loss of ($1.05) per share, missing analysts' expectations, despite revenue exceeding estimates, which has led to a mixed outlook from brokerages with a consensus rating of "Buy" and a target price averaging $32.00.

Adage Capital Partners GP L.L.C. reduced its stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) by 56.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,277,000 shares of the company's stock after selling 1,651,086 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 2.77% of Urogen Pharma worth $14,124,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CWM LLC lifted its stake in Urogen Pharma by 6,047.1% during the 1st 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 period. Lazard Asset Management LLC acquired a new position in shares of Urogen Pharma in the 4th quarter valued at $67,000. GAMMA Investing LLC grew its holdings in Urogen Pharma by 6,908.4% in the first quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock valued at $83,000 after purchasing an additional 7,392 shares during the period. ProShare Advisors LLC acquired a new stake in Urogen Pharma in the 4th quarter valued at $137,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Urogen Pharma during the fourth quarter worth about $149,000. Hedge funds and other institutional investors own 91.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on URGN. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a research note on Friday, June 13th. Piper Sandler assumed coverage on shares of Urogen Pharma in a research note on Monday, August 18th. They issued an "overweight" rating and a $36.00 price target on the stock. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 price objective on shares of Urogen Pharma in a research note on Tuesday, August 5th. HC Wainwright dropped 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, Guggenheim restated a "buy" rating and issued a $30.00 target price (up from $15.00) on shares of Urogen Pharma in a report on Friday, June 13th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $32.00.

Urogen Pharma Price Performance

Shares of URGN stock traded up $0.14 during trading hours on Thursday, reaching $19.25. 895,349 shares of the company's stock were exchanged, compared to its average volume of 1,078,619. The company's 50 day moving average is $18.09 and its two-hundred day moving average is $12.79. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $21.71. The company has a market cap of $890.51 million, a P/E ratio of -5.80 and a beta of 1.10.

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

Insiders Place Their Bets

In other news, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction 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 completion of the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Jason Drew Smith sold 1,520 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $19.11, for a total transaction of $29,047.20. Following the transaction, the general counsel directly owned 43,305 shares of the company's stock, valued at approximately $827,558.55. This trade represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,062 shares of company stock worth $465,115. 4.70% of the stock is owned by company insiders.

Urogen Pharma Company 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.