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

Urogen Pharma (NASDAQ:URGN) shares dropped 6.7% on Tuesday . The company traded as low as $20.02 and last traded at $20.0130. Approximately 457,916 shares changed hands during mid-day 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

Several research analysts recently weighed in on URGN shares. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Urogen Pharma in a research report on Monday, October 27th. Wall Street Zen upgraded Urogen Pharma from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Urogen Pharma in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Urogen Pharma in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.00.

Urogen Pharma Price Performance

The firm has a market capitalization of $928.24 million, a price-to-earnings ratio of -5.73 and a beta of 1.29. The business’s 50-day moving average price is $23.76 and its 200 day moving average price is $19.93.

Urogen Pharma (NASDAQ:URGN) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.03. The firm had revenue of $27.48 million for the quarter, compared to analysts’ expectations of $34.09 million. As a group, sell-side analysts expect that Urogen Pharma will post -3.12 earnings per share for the current year.

Insider Buying and Selling

In other Urogen Pharma news, insider Mark Schoenberg sold 10,000 shares of the 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. This represents a 6.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of URGN. State of Wyoming bought a new position in shares of Urogen Pharma during the third quarter valued at approximately $66,000. Russell Investments Group Ltd. increased its position in Urogen Pharma by 1,594.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock valued at $66,000 after acquiring an additional 3,125 shares during the period. Osaic Holdings Inc. increased its position in Urogen Pharma by 491.2% in the 2nd quarter. Osaic Holdings Inc. now owns 3,695 shares of the company’s stock valued at $50,000 after acquiring an additional 3,070 shares during the period. Strs Ohio bought a new stake in Urogen Pharma during the 3rd quarter valued at $76,000. Finally, CWM LLC grew its stake in shares of Urogen Pharma by 18.0% in the third quarter. CWM LLC now owns 4,271 shares of the company’s stock worth $85,000 after purchasing an additional 650 shares in the last quarter. 91.29% of the stock is currently owned by institutional investors.

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.