Spyglass Pharma (NASDAQ:SGP) Trading Down 5.3% - Should You Sell?

Key Points

• Spyglass Pharma shares fell 5.3% to about $27.76 in light trading, with volume down 73% from the average session.
• Analyst sentiment remains favorable overall: six analysts rate the stock Buy, one Hold, and one Sell, producing a “Moderate Buy” consensus and a $44 average price target.
• The clinical-stage ophthalmic company missed quarterly EPS expectations, reporting a loss of $0.59 per share versus the expected $0.48 loss; analysts project a full-year loss of $2.55 per share.

Shares of Spyglass Pharma, Inc. (NASDAQ:SGP - Get Free Report) traded down 5.3% during trading on Friday . The stock traded as low as $27.72 and last traded at $27.7630. Approximately 28,940 shares traded hands during trading, a decline of 73% from the average session volume of 105,754 shares. The stock had previously closed at $29.33.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SGP shares. Weiss Ratings raised shares of Spyglass Pharma from a "sell (e)" rating to a "sell (e+)" rating in a research note on Thursday, August 20th. Raymond James Financial started coverage on Spyglass Pharma in a report on Friday, August 14th. They issued an "outperform" rating and a $39.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Spyglass Pharma has an average rating of "Moderate Buy" and a consensus price target of $44.00.

Spyglass Pharma Stock Performance

The firm has a market capitalization of $939.47 million and a PE ratio of -4.01. The stock's 50 day simple moving average is $24.84 and its two-hundred day simple moving average is $23.31.

Spyglass Pharma (NASDAQ:SGP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.11). Equities research analysts expect that Spyglass Pharma, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. First Light Asset Management LLC acquired a new stake in Spyglass Pharma during the first quarter worth about $9,716,000. Affinity Asset Advisors LLC acquired a new position in Spyglass Pharma in the 1st quarter valued at about $6,478,000. Monashee Investment Management LLC purchased a new stake in shares of Spyglass Pharma in the 1st quarter valued at approximately $2,461,000. Bank of America Corp DE acquired a new stake in shares of Spyglass Pharma during the 1st quarter worth approximately $726,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Spyglass Pharma during the 2nd quarter valued at approximately $533,000.

About Spyglass Pharma

SpyGlass Pharma, Inc is a clinical-stage ophthalmic pharmaceutical company focused on developing long-acting treatments for chronic eye diseases. The company is developing drug-delivery technologies intended to reduce the need for patients to administer topical eye drops regularly.

Its lead development program, SGP-310, is an intraocular implant designed to provide sustained delivery of travoprost, a prostaglandin analog used to lower elevated intraocular pressure. The product is being developed for patients with primary open-angle glaucoma or ocular hypertension, conditions that can increase the risk of vision loss if left untreated.

SpyGlass Pharma's platform is intended to support extended drug release inside the eye, potentially improving treatment consistency and adherence compared with daily topical medications.

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