State Street Corp Increases Stock Position in Sight Sciences, Inc. (NASDAQ:SGHT)

State Street Corp grew its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 17.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,776 shares of the company’s stock after buying an additional 95,843 shares during the period. State Street Corp owned approximately 1.27% of Sight Sciences worth $4,075,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Millrace Asset Group Inc. bought a new stake in shares of Sight Sciences during the 3rd quarter worth $874,000. Acadian Asset Management LLC lifted its stake in Sight Sciences by 256.6% during the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after purchasing an additional 60,220 shares during the last quarter. Long Focus Capital Management LLC boosted its holdings in shares of Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after purchasing an additional 65,767 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of Sight Sciences during the 2nd quarter valued at about $1,234,000. Institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Down 1.1 %

NASDAQ SGHT opened at $3.53 on Tuesday. Sight Sciences, Inc. has a 1 year low of $3.30 and a 1 year high of $8.45. The stock has a market capitalization of $179.17 million, a PE ratio of -3.46 and a beta of 2.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The business’s 50-day moving average is $4.19 and its 200 day moving average is $5.72.

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

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 12,727 shares of the business’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 transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the transaction, the insider now directly owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. The trade was a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 15,000 shares of company stock worth $58,232 and sold 78,946 shares worth $462,727. Company insiders own 28.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SGHT. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and dropped their target price for the company from $10.00 to $5.00 in a report on Monday, November 4th. UBS Group initiated coverage on Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 price target on the stock. Finally, Citigroup lowered their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.12.

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.