Affinity Asset Advisors LLC Buys Shares of 250,000 Spyglass Pharma, Inc. $SGP

Affinity Asset Advisors LLC purchased a new position in shares of Spyglass Pharma, Inc. (NASDAQ:SGP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 250,000 shares of the company’s stock, valued at approximately $6,478,000. Affinity Asset Advisors LLC owned about 0.75% of Spyglass Pharma at the end of the most recent quarter.

Separately, Monashee Investment Management LLC acquired a new stake in Spyglass Pharma during the 1st quarter worth approximately $2,461,000.

Wall Street Analyst Weigh In

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

Spyglass Pharma Trading Down 1.9%

Shares of SGP opened at $20.49 on Friday. Spyglass Pharma, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $32.44. The business has a 50-day moving average price of $19.82. The stock has a market cap of $685.04 million and a price-to-earnings ratio of -3.20.

Spyglass Pharma (NASDAQ:SGP) last posted its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.02).

About Spyglass Pharma

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).