Urogen Pharma (NASDAQ:URGN) Trading Down 5.9% - Here's Why

Key Points

• Urogen Pharma's share price dropped by 5.9%, trading as low as $19.04, with a significant decline in trading volume, down 92% from its average.
• Analysts have given mixed ratings for Urogen Pharma, with price targets ranging from $16.00 to $50.00 and an average target price of $32.00.
• In recent insider trading, Mark Schoenberg sold 10,000 shares, raising concerns as his ownership decreased by over 6%.

Urogen Pharma (NASDAQ:URGN - Get Free Report)'s share price was down 5.9% on Wednesday . The stock traded as low as $19.04 and last traded at $18.77. Approximately 121,424 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,497,161 shares. The stock had previously closed at $19.95.

Analysts Set New Price Targets

A number of research analysts recently issued reports on URGN shares. Oppenheimer set a $31.00 price target on Urogen Pharma and gave the stock a "buy" rating in a research note on Friday, June 13th. D. Boral Capital reiterated a "buy" rating and set a $25.00 price target on shares of Urogen Pharma in a research note on Tuesday, August 5th. Guggenheim restated a "buy" rating and issued a $30.00 price target (up previously from $15.00) on shares of Urogen Pharma in a research report on Friday, June 13th. HC Wainwright decreased their price objective 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, The Goldman Sachs Group set a $16.00 target price on Urogen Pharma and gave the company a "neutral" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Urogen Pharma has an average rating of "Buy" and an average target price of $32.00.

Urogen Pharma Stock Performance

The company has a 50-day simple moving average of $19.07 and a 200-day simple moving average of $13.56. The company has a market cap of $846.03 million, a price-to-earnings ratio of -5.48 and a beta of 1.10.

Urogen Pharma (NASDAQ:URGN - Get Free Report) last issued its earnings results 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). Urogen Pharma had a negative return on equity of 97,487.15% and a negative net margin of 164.44%.The business had revenue of $24.22 million for the quarter, compared to analysts' expectations of $23.06 million. As a group, equities research analysts forecast that Urogen Pharma will post -3.12 EPS for the current year.

Insider Buying and Selling at Urogen Pharma

In related news, insider Mark Schoenberg sold 10,000 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $17.69, for a total value of $176,900.00. Following the completion of the sale, the insider owned 148,229 shares in the company, valued at $2,622,171.01. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jason Drew Smith sold 1,520 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $19.11, for a total transaction of $29,047.20. Following the completion of 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. Insiders have sold a total of 25,062 shares of company stock worth $465,115 over the last 90 days. Insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Urogen Pharma

Several hedge funds have recently bought and sold shares of URGN. Osaic Holdings Inc. boosted its position in Urogen Pharma by 491.2% during the second quarter. Osaic Holdings Inc. now owns 3,695 shares of the company's stock worth $50,000 after purchasing an additional 3,070 shares in the last quarter. CWM LLC boosted its position in shares of Urogen Pharma by 6,047.1% in the 1st quarter. CWM LLC now owns 5,225 shares of the company's stock worth $58,000 after buying an additional 5,140 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 valued at $94,000 after buying an additional 5,571 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Urogen Pharma by 9.4% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 9,261 shares of the company's stock valued at $127,000 after buying an additional 797 shares during the last quarter. 91.29% of the stock is owned by hedge funds and other 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.

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