Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 14,440 Sight Sciences, Inc. (NASDAQ:SGHT)

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Sight Sciences, Inc. (NASDAQ:SGHT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,440 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SGHT. Arkadios Wealth Advisors purchased a new stake in Sight Sciences in the 4th quarter valued at about $47,000. WealthTrust Asset Management LLC purchased a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $48,000. Stoneridge Investment Partners LLC bought a new position in Sight Sciences in the fourth quarter worth approximately $55,000. SG Americas Securities LLC increased its holdings in Sight Sciences by 47.6% during the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after purchasing an additional 5,681 shares during the period. Finally, American Century Companies Inc. raised its position in Sight Sciences by 10.7% during the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock valued at $188,000 after purchasing an additional 4,964 shares in the last quarter. 55.51% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SGHT has been the topic of several research reports. Lake Street Capital cut their price target on Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Thursday, March 6th. UBS Group reduced their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a report 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 on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus cut their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Piper Sandler lowered their target price on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average price target of $3.83.

Sight Sciences Stock Up 3.1 %

Sight Sciences stock opened at $2.30 on Friday. Sight Sciences, Inc. has a 1-year low of $2.04 and a 1-year high of $8.45. The business has a fifty day moving average price of $2.67 and a 200-day moving average price of $3.86. 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 capitalization of $118.07 million, a price-to-earnings ratio of -2.25 and a beta of 2.52.

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

Insider Buying and Selling at Sight Sciences

In other news, EVP Manohar K. Raheja acquired 10,000 shares of Sight Sciences stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the sale, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,999 shares of company stock worth $206,175. 28.90% of the stock is owned by corporate 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.