Urogen Pharma (NASDAQ:URGN) Shares Down 6.5% – Here’s What Happened

Urogen Pharma (NASDAQ:URGN) shares were down 6.5% on Monday . The company traded as low as $21.05 and last traded at $21.2230. Approximately 166,949 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 246,588 shares. The stock had previously closed at $22.71.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Urogen Pharma in a research note on Monday, October 27th. D. Boral Capital reissued a “buy” rating and issued a $33.00 price target on shares of Urogen Pharma in a report on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Urogen Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Urogen Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Urogen Pharma Stock Up 5.7%

The business’s 50 day simple moving average is $23.65 and its 200 day simple moving average is $19.71.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.03. The company had revenue of $27.48 million during the quarter, compared to analysts’ expectations of $34.09 million. As a group, sell-side analysts anticipate that Urogen Pharma will post -3.12 earnings per share 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 Wednesday, November 19th. The stock was sold at an average price of $25.00, for a total transaction of $250,000.00. Following the completion of the sale, the insider directly owned 139,025 shares in the company, valued at approximately $3,475,625. This trade represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Urogen Pharma by 216.6% in 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 worth $48,227,000 after acquiring an additional 2,983,368 shares in the last quarter. Paradigm Biocapital Advisors LP purchased a new stake in shares of Urogen Pharma in the third quarter valued at approximately $84,111,000. Soleus Capital Management L.P. bought a new position in Urogen Pharma in the second quarter worth approximately $29,934,000. SG Americas Securities LLC grew its stake in Urogen Pharma by 0.7% in the third quarter. SG Americas Securities LLC now owns 1,157,383 shares of the company’s stock worth $23,090,000 after purchasing an additional 8,302 shares in the last quarter. Finally, TCG Crossover Management LLC bought a new stake in Urogen Pharma during the 3rd quarter valued at $14,311,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Urogen Pharma Company Profile

UroGen Pharma is a clinical-stage biopharmaceutical company focused on developing and commercializing novel treatments for uro-oncology and uro-genital diseases. Founded in 2010 and headquartered in Ra’anana, Israel, with offices in New York, UroGen applies its proprietary RTGel® reverse thermal gel delivery platform to create sustained-release formulations designed for in-office use by urologists.

The company’s lead product, Jelmyto® (mitomycin gel), received U.S. Food and Drug Administration approval in 2020 for the treatment of adults with low-grade upper tract urothelial cancer.