Superstring Capital Management cut its stake in UroGen Pharma Ltd. (URGN 3.31%), selling 330,983 shares in the first quarter in an estimated $6.64 million trade based on average quarterly pricing, according to a May 14, 2026, SEC filing.
What happened
According to a filing with the Securities and Exchange Commission dated May 14, 2026, Superstring Capital Management reduced its position in UroGen Pharma Ltd. by 330,983 shares. The estimated transaction value is $6.64 million, based on the average closing price for the quarter ended March 31, 2026. The quarter-end value of the position fell by $9.86 million, reflecting both share sales and price changes.
What else to know
- This was a sale, with UroGen Pharma Ltd. representing 4.98% of the fund’s 13F reportable AUM after the move
- Top holdings after the filing:
- NASDAQ: SMMT: $16.93 million (12.1% of AUM)
- NASDAQ: IMVT: $8.88 million (6.3% of AUM)
- NASDAQ: COGT: $8.67 million (6.2% of AUM)
- NASDAQ: SVRA: $8.66 million (6.2% of AUM)
- NASDAQ: URGN: $6.96 million (5.0% of AUM)
- As of Friday, shares of UroGen Pharma Ltd. were priced at $28.89, up over 600% in the past year and significantly outperforming the S&P 500, which is instead up about 28% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $28.89 |
| Market Capitalization | $1.4 billion |
| Revenue (TTM) | $140.49 million |
| Net Income (TTM) | ($133.22 million) |
Company Snapshot
- UroGen Pharma Ltd. develops and commercializes novel therapies for specialty cancers and urothelial diseases, with key products including Jelmyto and the investigational UGN-102 and UGN-301.
- The company aims to expand its portfolio with pipeline candidates targeting non-muscle invasive bladder and upper tract cancers.
- UroGen leverages proprietary RTGel technology and collaborates with leading pharmaceutical and research institutions to advance its clinical programs.
UroGen Pharma Ltd. is a biotechnology company focused on advancing innovative therapies for urothelial cancers, leveraging proprietary RTGel technology and a robust clinical pipeline. The company pursues a strategy of addressing unmet medical needs in specialty oncology markets, with a particular emphasis on non-muscle invasive bladder cancer. Its competitive edge lies in its differentiated delivery platform and strategic collaborations with leading pharmaceutical and research institutions.
What this transaction means for investors
This sale seems like an example of profit-taking instead of a sign of lost conviction. Even after trimming the position, UroGen remains one of Superstring’s five largest holdings, accounting for roughly 5% of reported assets. That’s notable given the stock’s more than 600% run over the past year.
What’s interesting is that the sale comes as UroGen continues to rack up clinical and commercial wins. Earlier this month, the company reported that its newly approved bladder cancer therapy ZUSDURI delivered a 64.5% probability of remaining disease-free at three years among patients who achieved a complete response, with a median duration of response still not reached.
Then just two days later, UroGen announced encouraging Phase 3 data for UGN-103, a next-generation version of the therapy. The trial showed a 94.5% six-month duration of response, and management remains on track to submit an NDA in the third quarter of 2026.
For long-term investors, the key question is whether UroGen can turn clinical momentum into a durable oncology franchise. With an approved product already on the market, a follow-on candidate moving toward potential approval, and patent protection for UGN-103 expected into 2041, the company is beginning to look more like a platform story.
