Spyglass Pharma, Inc.’s (NASDAQ:SGP) Lock-Up Period Set To End on August 5th

Spyglass Pharma’s (NASDAQ:SGP) lock-up period will end on Wednesday, August 5th. Spyglass Pharma had issued 9,375,000 shares in its initial public offering on February 6th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Spyglass Pharma Stock Down 0.8%

Shares of NASDAQ SGP opened at $22.53 on Friday. The company has a fifty day moving average price of $19.85. Spyglass Pharma has a one year low of $17.06 and a one year high of $32.44. The firm has a market capitalization of $753.25 million and a price-to-earnings ratio of -3.51.

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

Hedge Funds Weigh In On Spyglass Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC acquired a new stake in shares of Spyglass Pharma during the 1st quarter worth $6,478,000. Monashee Investment Management LLC bought a new position in shares of Spyglass Pharma in the first quarter worth $2,461,000. First Light Asset Management LLC acquired a new position in Spyglass Pharma in the first quarter valued at about $9,716,000. Bank of America Corp DE bought a new stake in Spyglass Pharma during the first quarter worth about $726,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Spyglass Pharma during the first quarter worth about $308,000.

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).