Jane Street Group LLC Cuts Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Jane Street Group LLC lessened its holdings in Sight Sciences, Inc. (NASDAQ:SGHT) by 48.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,731 shares of the company’s stock after selling 23,323 shares during the period. Jane Street Group LLC’s holdings in Sight Sciences were worth $156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Sight Sciences in the 3rd quarter worth approximately $75,000. The Manufacturers Life Insurance Company purchased a new position in shares of Sight Sciences in the 2nd quarter worth approximately $95,000. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences in the 3rd quarter worth approximately $136,000. American Century Companies Inc. boosted its stake in shares of Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after buying an additional 8,527 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after buying an additional 11,671 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SGHT shares. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Morgan Stanley dropped their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. UBS Group started coverage on Sight Sciences in a research note on Friday, December 6th. They issued a “buy” rating and a $5.50 price objective on the stock. Citigroup dropped their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Sight Sciences has a consensus rating of “Hold” and a consensus price target of $5.12.

Sight Sciences Price Performance

NASDAQ:SGHT opened at $3.24 on Tuesday. The firm has a market capitalization of $164.45 million, a price-to-earnings ratio of -3.18 and a beta of 2.57. Sight Sciences, Inc. has a 52-week low of $3.15 and a 52-week high of $8.45. The stock has a fifty day moving average of $3.79 and a 200 day moving average of $5.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. On average, research analysts expect that Sight Sciences, Inc. will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, insider Matthew Link sold 20,487 shares of Sight Sciences stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.98, for a total value of $122,512.26. Following the transaction, the insider now owns 685,381 shares in the company, valued at approximately $4,098,578.38. The trade was a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the completion of the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 15,000 shares of company stock worth $58,232 and have sold 88,902 shares worth $458,027. Company insiders own 28.90% of the company’s stock.

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.