Sight Sciences, Inc. (NASDAQ:SGHT) Stake Reduced by Trexquant Investment LP

Trexquant Investment LP decreased its holdings in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 31.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,723 shares of the company’s stock after selling 15,590 shares during the period. Trexquant Investment LP owned approximately 0.07% of Sight Sciences worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. KCK LTD. bought a new stake in Sight Sciences during the fourth quarter worth approximately $15,925,000. State Street Corp boosted its stake 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 worth $4,075,000 after acquiring an additional 95,843 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sight Sciences by 335.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock worth $439,000 after acquiring an additional 53,658 shares in the last quarter. Barclays PLC grew its holdings in shares of Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after acquiring an additional 38,248 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Sight Sciences during the fourth quarter worth $55,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Stock Performance

Shares of SGHT opened at $2.41 on Tuesday. The company has a market capitalization of $123.71 million, a PE ratio of -2.36 and a beta of 2.46. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The company’s 50 day moving average price is $2.57 and its 200 day moving average price is $3.59. Sight Sciences, Inc. has a 52 week low of $2.03 and a 52 week high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same period last year, the business earned ($0.22) EPS. Research analysts expect that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Citigroup dropped their target price on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Piper Sandler reduced their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 6th. UBS Group lowered their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Finally, Lake Street Capital cut their target price on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average price target of $3.83.

Insider Transactions at Sight Sciences

In related news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manohar K. Raheja bought 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $2.73 per share, with a total value of $27,300.00. Following the completion of the purchase, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at approximately $395,850. The trade was a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 72,360 shares of company stock valued at $187,792 in the last three months. Corporate 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.