Geode Capital Management LLC Raises Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Geode Capital Management LLC lifted its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 784,129 shares of the company’s stock after purchasing an additional 12,709 shares during the quarter. Geode Capital Management LLC owned about 1.54% of Sight Sciences worth $4,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. increased its position in Sight Sciences by 31.1% during the second 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 last quarter. Rhumbline Advisers boosted its stake 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 during the period. SG Americas Securities LLC bought a new position in Sight Sciences during the 3rd quarter valued at about $75,000. The Manufacturers Life Insurance Company purchased a new stake in Sight Sciences in the 2nd quarter worth about $95,000. Finally, GSA Capital Partners LLP bought a new stake in Sight Sciences in the third quarter worth about $136,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on SGHT. Piper Sandler reaffirmed a “neutral” rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Morgan Stanley decreased their price objective 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. Finally, Citigroup dropped 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 note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.12.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $3.49 on Friday. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The firm has a market cap of $177.13 million, a price-to-earnings ratio of -3.42 and a beta of 2.58. The company’s 50 day moving average is $4.01 and its 200 day moving average is $5.62. Sight Sciences, Inc. has a 52-week low of $3.30 and a 52-week high of $8.45.

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

Insider Buying and Selling

In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the completion of the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This trade represents a 3.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 15,000 shares of company stock worth $58,232 and have sold 63,052 shares worth $367,522. 28.90% of the stock is owned by company insiders.

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.