Urogen Pharma (NASDAQ:URGN) Stock Price Down 6.7% – What’s Next?

Urogen Pharma (NASDAQ:URGN) dropped 6.7% on Tuesday . The company traded as low as $20.02 and last traded at $20.0130. Approximately 457,916 shares traded hands during trading, a decline of 15% from the average daily volume of 536,735 shares. The stock had previously closed at $21.45.

Analyst Ratings Changes

URGN has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Urogen Pharma in a research note on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of Urogen Pharma in a research note on Monday, January 5th. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Urogen Pharma in a research report on Monday, October 27th. Finally, Wall Street Zen raised Urogen Pharma from a “sell” rating to a “hold” rating in a research note 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Urogen Pharma Stock Down 7.6%

The firm has a market capitalization of $928.24 million, a PE ratio of -5.73 and a beta of 1.29. The firm’s 50-day moving average price is $23.76 and its two-hundred day moving average price is $19.93.

Urogen Pharma (NASDAQ:URGN) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.03. The business had revenue of $27.48 million for the quarter, compared to analysts’ expectations of $34.09 million. Equities research analysts forecast that Urogen Pharma will post -3.12 EPS for the current year.

Insider Activity

In other news, insider Mark Schoenberg sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $25.00, for a total transaction of $250,000.00. Following the transaction, the insider directly owned 139,025 shares in the company, valued at $3,475,625. The trade was a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in Urogen Pharma by 347.5% during the 1st quarter. AQR Capital Management LLC now owns 114,066 shares of the company’s stock valued at $1,262,000 after purchasing an additional 88,577 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Urogen Pharma by 7.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,320 shares of the company’s stock worth $258,000 after purchasing an additional 1,653 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Urogen Pharma by 216.6% in the first 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 buying an additional 2,983,368 shares during the period. Jane Street Group LLC increased its stake in Urogen Pharma by 94.3% during the first quarter. Jane Street Group LLC now owns 51,177 shares of the company’s stock valued at $566,000 after acquiring an additional 24,839 shares during the period. Finally, Truist Financial Corp acquired a new position in Urogen Pharma in the 2nd quarter valued at approximately $423,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

About Urogen Pharma

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.