Elmind Capital LP Invests $4.42 Billion in Urogen Pharma $URGN

Elmind Capital LP purchased a new position in Urogen Pharma (NASDAQ:URGN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 120,000 shares of the company’s stock, valued at approximately $4,416,000,000. Urogen Pharma makes up about 1.1% of Elmind Capital LP’s portfolio, making the stock its 22nd biggest holding. Elmind Capital LP owned approximately 0.25% of Urogen Pharma as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. ADAR1 Capital Management LLC purchased a new stake in Urogen Pharma during the 2nd quarter worth approximately $9,288,000. Parkman Healthcare Partners LLC purchased a new position in shares of Urogen Pharma during the 2nd quarter valued at approximately $6,406,000. Legal & General Group Plc purchased a new position in shares of Urogen Pharma during the 2nd quarter valued at approximately $1,319,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Urogen Pharma during the second quarter worth approximately $412,000. Finally, Partners Capital Investment Group LLP acquired a new stake in shares of Urogen Pharma during the second quarter worth approximately $566,000. Hedge funds and other institutional investors own 91.29% of the company’s stock.

Urogen Pharma Price Performance

Shares of URGN opened at $46.36 on Wednesday. The business’s fifty day moving average price is $41.11 and its 200 day moving average price is $29.51. Urogen Pharma has a 12-month low of $15.86 and a 12-month high of $50.81. The stock has a market capitalization of $2.27 billion, a PE ratio of -23.41 and a beta of 1.57.

Urogen Pharma (NASDAQ:URGN) last released its earnings results on Wednesday, August 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $72.46 million for the quarter, compared to analysts’ expectations of $63.55 million. As a group, research analysts anticipate that Urogen Pharma will post -0.2 earnings per share for the current fiscal year.

Insider Activity at Urogen Pharma

In other news, insider Mark Schoenberg sold 60,677 shares of Urogen Pharma stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $47.05, for a total value of $2,854,852.85. Following the completion of the transaction, the insider directly owned 59,086 shares of the company’s stock, valued at approximately $2,779,996.30. The trade was a 50.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 85,899 shares of company stock valued at $3,747,513. Insiders own 4.80% of the company’s stock.

Wall Street Analysts Forecast Growth

URGN has been the topic of several recent analyst reports. UBS Group reaffirmed a “buy” rating on shares of Urogen Pharma in a report on Thursday, July 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $44.00 target price on shares of Urogen Pharma in a research report on Wednesday, July 15th. Guggenheim upped their target price on shares of Urogen Pharma from $42.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Urogen Pharma in a research report on Friday, July 17th. Finally, HC Wainwright lifted their price target on Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.38.

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.