Urogen Pharma (NASDAQ:URGN) Stock Price Down 8% on Insider Selling

Key Points

• Urogen Pharma's stock dropped by 8% following an insider sale by General Counsel Jason Drew Smith, who sold 1,520 shares at an average price of $19.11.
• Analysts have set varied price targets for Urogen Pharma, ranging from $16.00 to $36.00, with a consensus average rating of "Buy" and a price target of $32.00.
• The company's recent quarterly earnings report revealed an EPS of ($1.05), falling short of analysts' estimates, despite achieving revenue of $24.22 million, which exceeded expectations.

Shares of Urogen Pharma (NASDAQ:URGN - Get Free Report) were down 8% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $19.25 and last traded at $19.04. Approximately 265,793 shares changed hands during trading, a decline of 83% from the average daily volume of 1,523,562 shares. The stock had previously closed at $20.69.

Specifically, General Counsel Jason Drew Smith sold 1,520 shares of Urogen Pharma stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $19.11, for a total transaction of $29,047.20. Following the sale, the general counsel directly owned 43,305 shares in the company, valued at $827,558.55. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group set a $16.00 target price on shares of Urogen Pharma and gave the stock a "neutral" rating in a research report on Friday, June 13th. Scotiabank reiterated an "outperform" rating on shares of Urogen Pharma in a research report on Friday, June 13th. D. Boral Capital restated a "buy" rating and issued a $25.00 price target on shares of Urogen Pharma in a research report on Tuesday, August 5th. Piper Sandler began coverage on shares of Urogen Pharma in a research report on Monday, August 18th. They set an "overweight" rating and a $36.00 target price on the stock. Finally, Guggenheim reiterated a "buy" rating and set a $30.00 target price (up previously from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $32.00.

Urogen Pharma Stock Performance

The firm has a market cap of $880.74 million, a P/E ratio of -5.77 and a beta of 1.10. The stock's 50 day simple moving average is $17.85 and its 200 day simple moving average is $12.68.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.23). The business had revenue of $24.22 million for the quarter, compared to the consensus estimate 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, analysts forecast that Urogen Pharma will post -3.12 EPS for the current fiscal year.

Institutional Trading of Urogen Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Urogen Pharma by 216.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,360,524 shares of the company's stock valued at $48,227,000 after purchasing an additional 2,983,368 shares in the last quarter. RTW Investments LP increased its stake in Urogen Pharma by 1.3% during the 4th quarter. RTW Investments LP now owns 3,834,794 shares of the company's stock valued at $40,841,000 after purchasing an additional 47,447 shares in the last quarter. RA Capital Management L.P. bought a new stake in Urogen Pharma during the 1st quarter valued at $35,461,000. Soleus Capital Management L.P. bought a new stake in Urogen Pharma during the 2nd quarter valued at $29,934,000. Finally, Vestal Point Capital LP increased its stake in Urogen Pharma by 32.1% during the 1st quarter. Vestal Point Capital LP now owns 2,152,957 shares of the company's stock valued at $23,812,000 after purchasing an additional 522,957 shares in the last quarter. Institutional investors own 91.29% of the company's stock.

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.

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