Urogen Pharma (NASDAQ:URGN) Shares Down 8% Following 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) traded down 8% on Wednesday following insider selling activity. The company traded as low as $19.25 and last traded at $19.04. 265,793 shares changed hands during trading, a decline of 83% from the average session 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 the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $19.11, for a total value 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. The trade was a 3.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on URGN shares. Guggenheim restated a "buy" rating and issued a $30.00 price objective (up from $15.00) on shares of Urogen Pharma in a research note on Friday, June 13th. Piper Sandler started coverage on Urogen Pharma in a research note on Monday, August 18th. They issued an "overweight" rating and a $36.00 price objective on the stock. The Goldman Sachs Group set a $16.00 price objective on Urogen Pharma and gave the company a "neutral" rating in a research note on Friday, June 13th. HC Wainwright lowered their price objective on Urogen Pharma from $50.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Finally, D. Boral Capital restated a "buy" rating and issued a $25.00 price objective on shares of Urogen Pharma in a research note on Tuesday, August 5th. 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 company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.00.

Urogen Pharma Price Performance

The firm has a 50-day simple moving average of $18.19 and a 200 day simple moving average of $12.90. The firm has a market cap of $836.84 million, a PE ratio of -5.45 and a beta of 1.10.

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

Hedge Funds Weigh In On Urogen Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock valued at $50,000 after acquiring an additional 3,070 shares in the last quarter. CWM LLC increased its holdings in shares of 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 in the last quarter. Lazard Asset Management LLC bought a new stake in Urogen Pharma in the 4th quarter worth about $67,000. GAMMA Investing LLC increased its holdings in Urogen Pharma by 6,908.4% in the 1st quarter. GAMMA Investing LLC now owns 7,499 shares of the company's stock worth $83,000 after buying an additional 7,392 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Urogen Pharma by 422.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the company's stock worth $94,000 after buying an additional 5,571 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.