Monashee Investment Management LLC Buys Shares of 95,000 Spyglass Pharma, Inc. $SGP

Monashee Investment Management LLC bought a new stake in shares of Spyglass Pharma, Inc. (NASDAQ:SGP) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 95,000 shares of the company’s stock, valued at approximately $2,461,000. Spyglass Pharma comprises 1.3% of Monashee Investment Management LLC’s holdings, making the stock its 24th biggest position.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Spyglass Pharma from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Spyglass Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

Spyglass Pharma Stock Performance

Shares of Spyglass Pharma stock opened at $20.54 on Thursday. The company has a 50-day moving average price of $19.94. Spyglass Pharma, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $32.44. The company has a market capitalization of $686.71 million and a price-to-earnings ratio of -3.20.

Spyglass Pharma (NASDAQ:SGP) last released its earnings results on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.02).

Spyglass Pharma Company Profile

We are a late-stage biopharmaceutical company dedicated to transforming the treatment paradigm for patients living with chronic eye conditions through long-acting, sustained drug delivery of approved medicines. Our mission is to significantly improve the lives of patients with chronic eye conditions by developing durable drug delivery solutions that can empower patients and surgeons with confidence in long-term disease control and vision preservation. Our lead product candidate, the Bimatoprost Drug Pad-IOL System (BIM-IOL System), comprising novel, proprietary drug pads attached to our intraocular lens (IOL), is designed to be implanted during routine cataract surgery to reduce elevated intraocular pressure (IOP) in patients who have either open-angle glaucoma (OAG) or ocular hypertension (OHT).