Monashee Investment Management LLC Purchases New Position in Spyglass Pharma, Inc. $SGP

Monashee Investment Management LLC acquired a new position in shares of Spyglass Pharma, Inc. (NASDAQ:SGP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 95,000 shares of the company’s stock, valued at approximately $2,461,000. Spyglass Pharma makes up about 1.3% of Monashee Investment Management LLC’s investment portfolio, making the stock its 24th biggest position. Monashee Investment Management LLC owned 0.28% of Spyglass Pharma at the end of the most recent quarter.

Analyst Ratings Changes

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

Spyglass Pharma Stock Performance

SGP opened at $20.54 on Thursday. The company’s fifty day moving average price is $19.94. The firm has a market cap of $686.71 million and a price-to-earnings ratio of -3.20. Spyglass Pharma, Inc. has a twelve month low of $17.06 and a twelve month high of $32.44.

Spyglass Pharma (NASDAQ:SGP) last issued its quarterly earnings data 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).