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

Elmind Capital LP bought a new position in Urogen Pharma (NASDAQ:URGN) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 120,000 shares of the company’s stock, valued at approximately $4,416,000. Urogen Pharma accounts for approximately 0.0% of Elmind Capital LP’s investment portfolio, making the stock its 22nd largest holding. Elmind Capital LP owned 0.25% of Urogen Pharma as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. ADAR1 Capital Management LLC purchased a new position in Urogen Pharma during the second quarter valued at approximately $9,288,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Urogen Pharma during the second quarter worth $6,406,000. Legal & General Group Plc purchased a new position in Urogen Pharma during the second quarter worth $1,319,000. The Manufacturers Life Insurance Company acquired a new stake in Urogen Pharma in the 2nd quarter valued at $412,000. Finally, Partners Capital Investment Group LLP bought a new position in shares of Urogen Pharma in the 2nd quarter worth about $566,000. 91.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Urogen Pharma

In other news, insider Mark Schoenberg sold 60,677 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $47.05, for a total value of $2,854,852.85. Following the completion of the sale, the insider 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 legal filing with the SEC, which is accessible through this link. Insiders have sold 85,899 shares of company stock valued at $3,747,513 in the last three months. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on URGN shares. LADENBURG THALM/SH SH initiated coverage on Urogen Pharma in a research report on Monday, May 11th. They issued a “buy” rating and a $43.00 price target on the stock. HC Wainwright upped their target price on shares of Urogen Pharma from $45.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Oppenheimer boosted their price target on shares of Urogen Pharma from $40.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $44.00 price objective on shares of Urogen Pharma in a research note on Wednesday, July 15th. Finally, TD Cowen lifted their target price on Urogen Pharma from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.38.

Urogen Pharma Price Performance

Shares of NASDAQ URGN traded down $1.59 during mid-day trading on Friday, reaching $43.91. 417,113 shares of the company traded hands, compared to its average volume of 810,971. Urogen Pharma has a fifty-two week low of $15.86 and a fifty-two week high of $50.81. The stock has a fifty day simple moving average of $41.61 and a 200-day simple moving average of $29.85. The firm has a market cap of $2.15 billion, a PE ratio of -22.18 and a beta of 1.57.

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

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.