Ra Capital Management, L.P. Purchases 3,690,000 Shares of Spyglass Pharma (NASDAQ:SGP) Stock

Spyglass Pharma, Inc. (NASDAQ:SGP) Director Ra Capital Management, L.P. purchased 3,690,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $59,040,000.00. Following the completion of the purchase, the director directly owned 5,966,439 shares in the company, valued at $95,463,024. This represents a 162.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Spyglass Pharma Trading Up 2.9%

NASDAQ:SGP opened at $28.50 on Thursday. Spyglass Pharma, Inc. has a 12 month low of $20.16 and a 12 month high of $32.44.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Spyglass Pharma to a “hold” rating in a research note on Tuesday.

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).