JPMorgan Chase & Co. Acquires 53,658 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

JPMorgan Chase & Co. grew its holdings in Sight Sciences, Inc. (NASDAQ:SGHT) by 335.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,660 shares of the company’s stock after purchasing an additional 53,658 shares during the period. JPMorgan Chase & Co. owned approximately 0.14% of Sight Sciences worth $439,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its holdings in Sight Sciences by 5.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after acquiring an additional 10,000 shares during the period. Barclays PLC raised its stake in shares of Sight Sciences by 317.4% during the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after purchasing an additional 38,248 shares during the period. Geode Capital Management LLC lifted its holdings in Sight Sciences by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares in the last quarter. State Street Corp boosted its stake in Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Sight Sciences by 46.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after buying an additional 65,767 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $3.13 on Wednesday. The firm has a market capitalization of $158.88 million, a PE ratio of -3.07 and a beta of 2.57. 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, Inc. has a 12 month low of $2.67 and a 12 month high of $8.45. The business’s 50-day moving average price is $3.50 and its 200-day moving average price is $5.21.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. Sell-side analysts forecast that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have acquired 15,000 shares of company stock worth $58,232 and have sold 63,014 shares worth $197,295. 28.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on SGHT shares. 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 report on Wednesday, December 11th. Morgan Stanley lowered their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Lake Street Capital lowered their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Finally, Piper Sandler reiterated a “neutral” rating and set a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a research 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.62.

Sight Sciences 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.