Director Ra Capital Management, L.P. buys $59 million of SpyGlass Pharma, Inc. (SGP)

Ra Capital Management, L.P., director of SpyGlass Pharma, Inc., bought 3,690,000 shares on the open market on February 9, 2026 at an average of $16.00 a share, for a total of $59 million. The purchase was reported to the SEC on Form 4 on February 11, 2026.

It is a new position: the filing shows no shares held directly before this purchase.

14 other insiders also bought at least $10,000 of SGP within 30 days, which makes this a cluster buy.

In the 12 months up to this filing, SpyGlass Pharma, Inc. insiders reported 16 open-market purchases and 0 sales.

WallStPal Score: 62 out of 100, because of a brand-new position; a large purchase; 14 other insiders also bought.

What happened next: after 1 month the stock was up 66.8% (69.4 points better than the S&P 500); after 6 months the stock was up 57.3% (45.3 points better than the S&P 500). Based on weekly prices from the week of the purchase.

Our read

It is one of 16 insider purchases at SGP in the past year, more than twice Ra Capital Management, L.P.'s previous largest purchase ($24,889). It is worth reading next to the company's own results and news before drawing conclusions.

Source: SEC Form 4 filing ↗. This story was written automatically from the filing and weekly price data. Information, not investment advice.

Examples

Big insider purchases have made news before. In January 2016, with bank stocks falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares, about $26 million of his own money, and the purchase was widely reported as a sign of confidence.

Explain it like I'm 13

Ra Capital Management, L.P. helps run SpyGlass Pharma, Inc.. Spending $59 million of their own money on the company's stock is like a coach buying a big stack of tickets to their own team's games: it suggests they think the team will do well. It is not a promise, and insiders can be wrong.

More: all SGP insider trades · Ra Capital Management, L.P.'s track record