10 Worst ADR Stocks To Buy According to Short Sellers

4. UroGen Pharma (NASDAQ:URGN)  

Short Interest as % of Shares Outstanding: 16.87%  

Number of Hedge Fund Investors in Q2 2024: 25

UroGen Pharma (NASDAQ:URGN) is an Israeli biopharmaceutical company focused on developing treatments for uro-oncology diseases, particularly bladder cancer. The company focuses on non-surgical treatment options that improve patient outcomes.

RTGel is a hydrogel-based sustained-release technology developed by UroGen Pharma (NASDAQ:URGN) is designed to increase the amount of time that urinary tract tissue is exposed to medication, which has the potential to make therapy a more effective treatment option. The company’s JELMYTO, has shown impressive clinical outcomes with a 58% complete response rate for low-grade upper tract urothelial cancer and is known for its durable and long-lasting effects.

UroGen Pharma’s (NASDAQ:URGN) UGN-102 is currently under FDA submission and is anticipated to target a $5 billion market for low-grade intermediate-risk non-muscle invasive bladder cancer (LG-IR-NMIBC). Approval for UGN-102 is expected as early as the first quarter of 2025 which is expected to position the company as a key player in the urological oncology space.

Despite 16.87% of shares being shorted, 25 hedge funds showed a bullish stance on the stock as of the second quarter and owns stocks worth $329.33 million. Adage Capital Management is the largest shareholder in the company, holding $55.37 million worth of stock as of June 30. Industry analysts maintain a consensus Buy rating for the company’s stock, with an average price target of $43.10, representing a 101.5% upside potential from its current levels.