Renaissance Technologies LLC Has $461,000 Stake in Sight Sciences, Inc. (NASDAQ:SGHT)

Renaissance Technologies LLC cut its holdings in Sight Sciences, Inc. (NASDAQ:SGHT) by 60.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,100 shares of the company’s stock after selling 105,556 shares during the period. Renaissance Technologies LLC owned approximately 0.14% of Sight Sciences worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of Sight Sciences during the first quarter worth approximately $59,000. Vanguard Group Inc. boosted its position in Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after buying an additional 81,768 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock worth $1,991,000 after purchasing an additional 76,549 shares during the period. Finally, Steele Capital Management Inc. acquired a new position in Sight Sciences in the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the transaction, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares in the company, valued at approximately $964,816.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total transaction of $76,234.73. Following the sale, the chief executive officer now directly owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,305 shares of company stock worth $207,144. 28.90% of the stock is owned by corporate insiders.

Sight Sciences Price Performance

Shares of SGHT stock opened at $5.55 on Friday. The company has a market cap of $279.22 million, a P/E ratio of -4.96 and a beta of 2.71. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $6.29 and a 200 day simple moving average of $6.25. Sight Sciences, Inc. has a twelve month low of $1.04 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, August 1st. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $21.37 million for the quarter, compared to analyst estimates of $21.32 million. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. During the same period in the previous year, the firm posted ($0.30) EPS. On average, sell-side analysts forecast that Sight Sciences, Inc. will post -1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SGHT shares. Citigroup lifted their price objective on Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Lake Street Capital started coverage on Sight Sciences in a research report on Wednesday, August 21st. They set a “buy” rating and a $10.00 price target on the stock. Morgan Stanley upped their price target on shares of Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.25.

About Sight Sciences

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.