A major investment fund cut its stake in UroGen Pharma Ltd. by more than 330,000 shares in the first quarter of 2026, unloading the position after the biotech stock surged more than 600 percent over the past year. The sale still left UroGen as one of the fund's top five holdings.
According to a May 14, 2026 filing with the Securities and Exchange Commission, Superstring Capital Management sold 330,983 shares of UroGen during the quarter ended March 31, 2026. The estimated value of the transaction was $6.64 million, based on average closing prices for the quarter. The quarter-end value of the fund's position in UroGen fell by $9.86 million, reflecting both the share sales and price movement in the stock.
Even after the sale, UroGen represented 4.98 percent of Superstring's 13F reportable assets under management, with a remaining position valued at $6.96 million. Yahoo Finance described the transaction as an example of profit-taking rather than a sign of lost conviction, given that UroGen remained among the fund's largest individual positions.
As of Friday, shares of UroGen were priced at $28.89. The stock is up more than 600 percent over the past year, far outpacing the S&P 500, which gained approximately 28 percent over the same period.
UroGen develops and commercializes therapies for specialty cancers and urothelial diseases. Its key products include Jelmyto and the investigational treatments UGN-102 and UGN-301. The company focuses on non-muscle invasive bladder cancer and upper tract cancers, and uses a proprietary delivery platform called RTGel technology.
The company has continued to post clinical results that support the stock's rise. Earlier this month, UroGen reported that its newly approved bladder cancer therapy ZUSDURI delivered a 64.5 percent probability of remaining disease-free at three years among patients who achieved a complete response, with a median duration of response still not reached at the time of reporting.
Superstring's top holding after the filing was Summit Therapeutics, listed on Nasdaq under the ticker SMMT, valued at $16.93 million and representing 12.1 percent of reported assets. Immunovant came in second at $8.88 million, followed by Cogent Biosciences at $8.67 million and Savara at $8.66 million. UroGen ranked fifth.
The SEC filing provides a snapshot of the fund's holdings as of the end of the first quarter and does not reflect any trades made after March 31, 2026.