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

JPMorgan Chase & Co. boosted its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 335.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 69,660 shares of the company’s stock after buying an additional 53,658 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sight Sciences were worth $439,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SGHT. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Morgan Stanley lowered their target price 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. Citigroup cut their price target 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. UBS Group lowered their price objective on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday. Finally, Lake Street Capital reduced their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.62.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the sale, the chief executive officer now owns 5,713,197 shares in the company, valued at $20,567,509.20. This trade represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 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.

Sight Sciences Trading Up 7.2 %

Shares of NASDAQ:SGHT opened at $3.13 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences, Inc. has a 1 year low of $2.67 and a 1 year high of $8.45. The company has a market cap of $158.88 million, a P/E ratio of -3.07 and a beta of 2.57. The stock’s fifty day moving average price is $3.50 and its 200-day moving average price is $5.21.

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

About Sight Sciences

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.