Urogen Pharma $URGN Stock Position Decreased 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. cut its stake in shares of Urogen Pharma (NASDAQ:URGN - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,277,000 shares of the company's stock after selling 1,651,086 shares during the quarter. Adage Capital Partners GP L.L.C. owned 2.77% of Urogen Pharma worth $14,124,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Urogen Pharma during the 4th quarter worth $67,000. Janus Henderson Group PLC bought a new stake in shares of Urogen Pharma during the 4th quarter worth $149,000. ProShare Advisors LLC bought a new stake in shares of Urogen Pharma during the 4th quarter worth $137,000. Rhumbline Advisers boosted its stake in shares of Urogen Pharma by 4.3% during the 1st quarter. Rhumbline Advisers now owns 53,466 shares of the company's stock worth $591,000 after acquiring an additional 2,196 shares in the last quarter. Finally, Vestal Point Capital LP boosted its stake in shares of Urogen Pharma by 307.5% during the 4th quarter. Vestal Point Capital LP now owns 1,630,000 shares of the company's stock worth $17,360,000 after acquiring an additional 1,230,000 shares in the last quarter. 91.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Jason Drew Smith sold 7,522 shares of Urogen Pharma stock in a transaction on Monday, July 28th. The stock was sold at an average price of $19.14, for a total transaction of $143,971.08. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Schoenberg sold 10,000 shares of Urogen Pharma stock in a transaction 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 sale, the insider directly owned 148,229 shares of the company's stock, valued at approximately $2,622,171.01. The trade was a 6.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,833 shares of company stock valued at $457,467. Insiders own 4.70% of the company's stock.

Urogen Pharma Trading Up 0.4%

URGN opened at $18.88 on Friday. The stock has a market cap of $873.39 million, a price-to-earnings ratio of -5.69 and a beta of 1.10. Urogen Pharma has a 1 year low of $3.42 and a 1 year high of $21.01. The stock has a fifty day moving average price of $17.54 and a 200 day moving average price of $12.52.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, sell-side analysts forecast that Urogen Pharma will post -3.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on URGN. Scotiabank reaffirmed an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. HC Wainwright decreased their target price 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. Piper Sandler began coverage on Urogen Pharma in a research report on Monday, August 18th. They issued an "overweight" rating and a $36.00 target price for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $25.00 target price on shares of Urogen Pharma in a research report on Tuesday, August 5th. Finally, Oppenheimer set a $31.00 target price on Urogen Pharma and gave the stock a "buy" rating in a research report on Friday, June 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Urogen Pharma currently has a consensus rating of "Buy" and an average price target of $32.00.

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.

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