Walleye Capital LLC Sells 280,403 Shares of Sight Sciences, Inc. $SGHT

Walleye Capital LLC lowered its stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 95.3% during the first quarter, HoldingsChannel reports. The fund owned 13,709 shares of the company’s stock after selling 280,403 shares during the quarter. Walleye Capital LLC’s holdings in Sight Sciences were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of SGHT. Vanguard Group Inc. increased its holdings in shares of Sight Sciences by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock worth $6,559,000 after purchasing an additional 102,609 shares during the period. Americana Partners LLC raised its position in shares of Sight Sciences by 12.1% during the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock valued at $10,935,000 after buying an additional 149,161 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Sight Sciences by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 880,958 shares of the company’s stock valued at $6,988,000 after buying an additional 27,802 shares during the period. State Street Corp lifted its stake in shares of Sight Sciences by 11.0% in the fourth quarter. State Street Corp now owns 737,359 shares of the company’s stock valued at $5,847,000 after buying an additional 73,362 shares during the period. Finally, Integral Health Asset Management LLC acquired a new stake in Sight Sciences during the fourth quarter worth about $3,370,000. 55.51% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Paul Badawi sold 28,684 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $5.42, for a total transaction of $155,467.28. Following the completion of the sale, the chief executive officer owned 6,122,472 shares in the company, valued at $33,183,798.24. This trade represents a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeremy B. Hayden sold 12,733 shares of Sight Sciences stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the transaction, the insider directly owned 357,037 shares of the company’s stock, valued at $1,967,273.87. This represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 58,566 shares of company stock worth $318,827 over the last 90 days. 30.40% of the stock is currently owned by company insiders.

Sight Sciences Price Performance

Sight Sciences stock opened at $4.91 on Friday. The business has a 50 day simple moving average of $5.07 and a 200 day simple moving average of $5.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48. The company has a market capitalization of $267.15 million, a PE ratio of -6.92 and a beta of 2.38. Sight Sciences, Inc. has a one year low of $3.11 and a one year high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The company had revenue of $19.70 million during the quarter, compared to the consensus estimate of $18.46 million. On average, sell-side analysts forecast that Sight Sciences, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SGHT. Weiss Ratings lowered Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup raised their price objective on Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.25.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.