Cubist Systematic Strategies LLC Buys Shares of 41,497 Sight Sciences, Inc. (NASDAQ:SGHT)

Cubist Systematic Strategies LLC bought a new stake in Sight Sciences, Inc. (NASDAQ:SGHT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,497 shares of the company’s stock, valued at approximately $151,000.

Other hedge funds also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Sight Sciences in the fourth quarter valued at about $40,000. Arkadios Wealth Advisors purchased a new position in shares of Sight Sciences during the 4th quarter worth approximately $47,000. WealthTrust Asset Management LLC purchased a new position in shares of Sight Sciences during the 4th quarter worth approximately $48,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Sight Sciences during the 4th quarter worth approximately $50,000. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Sight Sciences during the 4th quarter worth approximately $55,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Stock Up 3.8%

Shares of NASDAQ SGHT opened at $3.55 on Monday. Sight Sciences, Inc. has a 1 year low of $2.03 and a 1 year high of $8.45. The firm’s 50 day moving average price is $2.77 and its 200 day moving average price is $3.15. The firm has a market cap of $183.52 million, a P/E ratio of -3.48 and a beta of 2.41. 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 announced its quarterly earnings results 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. The company had revenue of $17.51 million for the quarter, compared to analyst estimates of $16.51 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. As a group, sell-side analysts anticipate that Sight Sciences, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Lake Street Capital raised their price objective on shares of Sight Sciences from $2.50 to $3.00 and gave the stock a “hold” rating in a research note on Friday, May 9th. UBS Group dropped their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Citigroup dropped their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Finally, Piper Sandler dropped 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.92.

Insider Buying and Selling at Sight Sciences

In related news, EVP Manohar K. Raheja purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. This trade represents a 7.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Paul Badawi sold 24,174 shares of Sight Sciences 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 35,196 shares of company stock worth $81,001 in the last quarter. 30.90% of the stock is owned by insiders.

Sight Sciences Company 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.