Dimensional Fund Advisors LP Boosts Stock Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Dimensional Fund Advisors LP increased its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 79.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 243,954 shares of the company’s stock after acquiring an additional 108,001 shares during the period. Dimensional Fund Advisors LP’s holdings in Sight Sciences were worth $887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KCK LTD. bought a new position in Sight Sciences during the 4th quarter valued at approximately $15,925,000. Renaissance Technologies LLC boosted its stake in Sight Sciences by 654.3% during the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock valued at $1,431,000 after purchasing an additional 340,906 shares during the last quarter. Barclays PLC boosted its stake 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 buying an additional 38,248 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Sight Sciences by 53.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock worth $60,000 after buying an additional 5,781 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Sight Sciences by 10.7% in the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock worth $188,000 after purchasing an additional 4,964 shares during the period. Institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Performance

Sight Sciences stock opened at $3.42 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The stock has a market cap of $176.80 million, a price-to-earnings ratio of -3.35 and a beta of 2.41. The firm has a 50 day simple moving average of $2.76 and a 200-day simple moving average of $3.19. Sight Sciences, Inc. has a 1-year low of $2.03 and a 1-year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) 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 $17.51 million for the quarter, compared to analyst estimates of $16.51 million. On average, analysts expect that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Insider Activity

In other news, EVP Manohar K. Raheja acquired 10,000 shares of Sight Sciences stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the transaction, the executive vice president now directly owns 145,000 shares in the company, valued at approximately $395,850. This trade represents a 7.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Badawi sold 24,174 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the completion of the transaction, the chief executive officer now directly owns 6,010,580 shares of the company’s stock, valued at approximately $13,824,334. This trade represents a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,196 shares of company stock valued at $81,001. Insiders own 30.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SGHT shares. UBS Group decreased their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Lake Street Capital lifted their price target on Sight Sciences from $2.50 to $3.00 and gave the stock a “hold” rating in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Stifel Nicolaus decreased their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Piper Sandler reduced their price objective on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.92.

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.