Trexquant Investment LP Sells 15,590 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

Trexquant Investment LP lowered its stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 31.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,723 shares of the company’s stock after selling 15,590 shares during the quarter. Trexquant Investment LP’s holdings in Sight Sciences were worth $126,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KCK LTD. acquired a new stake in shares of Sight Sciences in the fourth quarter worth $15,925,000. Geode Capital Management LLC lifted its position in Sight Sciences by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock worth $2,887,000 after acquiring an additional 8,731 shares during the last quarter. State Street Corp boosted its holdings in 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 acquiring an additional 95,843 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Sight Sciences by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,250 shares of the company’s stock valued at $976,000 after acquiring an additional 11,259 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Sight Sciences by 5.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Stock Performance

SGHT opened at $2.41 on Tuesday. The stock’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $3.59. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $123.71 million, a PE ratio of -2.36 and a beta of 2.46. 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 results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) 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 the consensus estimate of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same period last year, the firm earned ($0.22) EPS. Sell-side analysts forecast that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, EVP Manohar K. Raheja purchased 10,000 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $395,850. The trade was a 7.41 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Badawi sold 24,174 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $2.30, for a total value of $55,600.20. Following the transaction, the chief executive officer now owns 6,010,580 shares of the company’s stock, valued at $13,824,334. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 72,360 shares of company stock valued at $187,792 over the last quarter. Corporate insiders own 28.90% of the company’s stock.

Wall Street Analyst Weigh In

SGHT has been the subject of several recent analyst reports. UBS Group decreased their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research note on Monday, January 27th. Lake Street Capital reduced their price objective 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. Stifel Nicolaus lowered their price objective 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. Citigroup cut their target price 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.83.

About Sight Sciences

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.