Barclays PLC Increases Stock Holdings in Sight Sciences, Inc. (NASDAQ:SGHT)

Barclays PLC lifted its stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 317.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,300 shares of the company’s stock after purchasing an additional 38,248 shares during the quarter. Barclays PLC owned about 0.10% of Sight Sciences worth $317,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Sight Sciences during the 3rd quarter worth $75,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences during the second quarter worth about $95,000. GSA Capital Partners LLP acquired a new stake in Sight Sciences in the third quarter valued at about $136,000. American Century Companies Inc. boosted its holdings in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after purchasing an additional 8,527 shares in the last quarter. Finally, Rhumbline Advisers increased its position in 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 during the period. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Performance

Shares of SGHT opened at $3.49 on Friday. The company has a 50-day moving average of $4.01 and a two-hundred day moving average of $5.62. The stock has a market cap of $177.13 million, a P/E ratio of -3.42 and a beta of 2.58. Sight Sciences, Inc. has a 12-month low of $3.30 and a 12-month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, research analysts predict that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on SGHT shares. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.00 to $5.00 in a report on Monday, November 4th. Citigroup decreased their target price on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley cut their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group started coverage on shares of Sight Sciences in a report on Friday, December 6th. They set a “buy” rating and a $5.50 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $5.50 target price (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average target price of $5.12.

Insider Activity at Sight Sciences

In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. This represents a 3.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have purchased 15,000 shares of company stock valued at $58,232 and have sold 63,052 shares valued at $367,522. Corporate insiders own 28.90% of the company’s stock.

Sight Sciences Company Profile

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.