Renaissance Technologies LLC Acquires 340,906 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

Renaissance Technologies LLC raised its position in Sight Sciences, Inc. (NASDAQ:SGHT) by 654.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,006 shares of the company’s stock after buying an additional 340,906 shares during the quarter. Renaissance Technologies LLC’s holdings in Sight Sciences were worth $1,431,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SGHT. State Street Corp boosted its stake in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares in the last quarter. Barclays PLC increased its holdings in Sight Sciences by 317.4% during the 3rd 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 raised its holdings in shares of Sight Sciences by 1.6% in the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted 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 worth $1,174,000 after buying an additional 10,000 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sight Sciences by 335.3% during the third quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock worth $439,000 after buying an additional 53,658 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Stock Down 4.0 %

NASDAQ SGHT opened at $3.09 on Tuesday. The stock’s 50 day moving average is $2.61 and its 200 day moving average is $3.39. Sight Sciences, Inc. has a 12 month low of $2.03 and a 12 month high of $8.45. The stock has a market cap of $158.62 million, a PE ratio of -3.03 and a beta of 2.46. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) 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 $19.07 million for the quarter, compared to analysts’ expectations of $18.98 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. Research analysts predict that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SGHT. Citigroup cut their price target on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Piper Sandler decreased their price objective on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Stifel Nicolaus decreased their target price on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Lake Street Capital lowered their price target on Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sight Sciences currently has an average rating of “Hold” and a consensus target price of $3.83.

Insider Activity

In related news, CEO Paul Badawi sold 24,174 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the sale, the chief executive officer now owns 6,010,580 shares in the company, valued at approximately $13,824,334. This trade represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Manohar K. Raheja purchased 10,000 shares of the business’s stock in a transaction that occurred 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 purchase, the executive vice president now owns 145,000 shares in the company, valued at $395,850. This represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 35,196 shares of company stock worth $81,001. 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.