The Manufacturers Life Insurance Company Purchases New Shares in Sight Sciences, Inc. (NASDAQ:SGHT)

The Manufacturers Life Insurance Company acquired a new position in Sight Sciences, Inc. (NASDAQ:SGHT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 14,284 shares of the company’s stock, valued at approximately $95,000.

A number of other institutional investors have also recently bought and sold shares of SGHT. State Board of Administration of Florida Retirement System bought a new position in shares of Sight Sciences during the first quarter worth approximately $59,000. Steele Capital Management Inc. acquired a new position in Sight Sciences in the 2nd quarter valued at $67,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 valued at $141,000 after acquiring an additional 9,106 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after acquiring an additional 8,527 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Sight Sciences

In other Sight Sciences news, insider Matthew Link sold 20,734 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.91, for a total value of $122,537.94. Following the completion of the transaction, the insider now owns 726,838 shares of the company’s stock, valued at $4,295,612.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jeremy B. Hayden sold 4,878 shares of the firm’s stock in a transaction 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 owns 158,687 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Link sold 20,734 shares of Sight Sciences stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.91, for a total transaction of $122,537.94. Following the transaction, the insider now owns 726,838 shares in the company, valued at approximately $4,295,612.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,039 shares of company stock valued at $329,682 in the last 90 days. 28.90% of the stock is owned by corporate insiders.

Sight Sciences Stock Up 0.3 %

Shares of NASDAQ SGHT opened at $5.97 on Monday. The company has a market cap of $297.04 million, a price-to-earnings ratio of -5.33 and a beta of 2.71. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33. Sight Sciences, Inc. has a 12 month low of $1.04 and a 12 month high of $8.45. The stock has a 50-day moving average price of $6.31 and a two-hundred day moving average price of $6.30.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $21.37 million during the quarter, compared to analysts’ expectations 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 prior year, the company earned ($0.30) EPS. As a group, analysts forecast that Sight Sciences, Inc. will post -1 earnings per share for the current fiscal year.

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.