Healthcare of Ontario Pension Plan Trust Fund Sells 738,026 Shares of Urogen Pharma $URGN

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in shares of Urogen Pharma (NASDAQ:URGN) by 65.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 387,074 shares of the company’s stock after selling 738,026 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Urogen Pharma were worth $6,960,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Swiss National Bank bought a new stake in shares of Urogen Pharma during the 1st quarter worth approximately $1,399,000. SG Americas Securities LLC grew its position in Urogen Pharma by 20.3% in the 1st quarter. SG Americas Securities LLC now owns 1,657,846 shares of the company’s stock valued at $29,808,000 after acquiring an additional 280,199 shares during the last quarter. Invesco Ltd. increased its stake in Urogen Pharma by 21.1% in the fourth quarter. Invesco Ltd. now owns 27,066 shares of the company’s stock worth $634,000 after purchasing an additional 4,711 shares during the period. Susquehanna Portfolio Strategies LLC purchased a new stake in Urogen Pharma in the fourth quarter worth $641,000. Finally, Superstring Capital Management LP lifted its position in shares of Urogen Pharma by 717.1% during the fourth quarter. Superstring Capital Management LP now owns 718,354 shares of the company’s stock worth $16,824,000 after purchasing an additional 630,442 shares during the last quarter. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Urogen Pharma Price Performance

URGN stock opened at $40.45 on Thursday. Urogen Pharma has a 1-year low of $15.86 and a 1-year high of $43.93. The business has a 50-day moving average price of $34.57 and a 200 day moving average price of $26.07. The company has a market capitalization of $1.97 billion, a P/E ratio of -14.71 and a beta of 1.56.

Urogen Pharma (NASDAQ:URGN) last issued its earnings results on Thursday, May 7th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.01. The business had revenue of $50.96 million for the quarter, compared to the consensus estimate of $44.83 million. On average, analysts anticipate that Urogen Pharma will post -0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on URGN shares. Guggenheim boosted their target price on shares of Urogen Pharma from $32.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $44.00 price objective on shares of Urogen Pharma in a report on Wednesday, July 15th. Jefferies Financial Group raised shares of Urogen Pharma to a “strong-buy” rating in a research report on Friday, April 24th. LADENBURG THALM/SH SH began coverage on shares of Urogen Pharma in a research note on Monday, May 11th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.62.

Insider Activity

In other news, insider Mark Schoenberg sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $40.00, for a total transaction of $400,000.00. Following the transaction, the insider directly owned 119,763 shares in the company, valued at approximately $4,790,520. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,222 shares of company stock worth $892,661 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

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.