Spyglass Pharma (NASDAQ:SGP – Get Free Report) released its earnings results on Thursday. The company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11), FiscalAI reports.
Spyglass Pharma Trading Up 4.5%
SGP traded up $1.07 on Thursday, hitting $24.75. 76,591 shares of the company were exchanged, compared to its average volume of 109,552. The company has a fifty day moving average price of $20.03. Spyglass Pharma has a 12 month low of $17.06 and a 12 month high of $32.44. The company has a market cap of $827.47 million and a P/E ratio of -3.86.
Hedge Funds Weigh In On Spyglass Pharma
Hedge funds and other institutional investors have recently made changes to their positions in the company. Monashee Investment Management LLC acquired a new position in Spyglass Pharma during the first quarter worth $2,461,000. Affinity Asset Advisors LLC acquired a new position in shares of Spyglass Pharma during the 1st quarter worth about $6,478,000. First Light Asset Management LLC acquired a new stake in Spyglass Pharma in the 1st quarter valued at about $9,716,000. The Manufacturers Life Insurance Company bought a new position in Spyglass Pharma during the first quarter worth about $308,000. Finally, Bank of America Corp DE bought a new stake in Spyglass Pharma in the first quarter valued at approximately $726,000.
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).
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