The hedge fund sold 330,983 shares of URGN in Q1, reducing its holding to 4.98% of reportable AUM.
Superstring Capital Management reduced its position in UroGen Pharma Ltd. (NASDAQ:URGN) by 330,983 shares during the first quarter, resulting in an estimated $6.64 million sale based on average quarterly pricing. The move follows a more than 600% surge in URGN shares over the past year, far outpacing the S&P 500’s 28% gain in the same period.
The quarter-end value of Superstring’s URGN stake declined by $9.86 million, reflecting both the share sale and price fluctuations. After the reduction, URGN accounted for 4.98% of the fund’s reportable assets under management, down from a higher percentage earlier in the quarter. The fund’s top holdings now include SMMT ($16.93 million), IMVT ($8.88 million), and COGT ($8.67 million).
UroGen Pharma, which develops therapies for specialty cancers and urothelial diseases, saw its shares close at $28.89 on Friday. The company’s key products include Jelmyto and investigational treatments UGN-102 and UGN-301.