Prosight Management LP Reduces Position in Sight Sciences, Inc. $SGHT

Prosight Management LP trimmed its holdings in Sight Sciences, Inc. (NASDAQ:SGHT) by 49.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 439,941 shares of the company’s stock after selling 431,746 shares during the period. Prosight Management LP’s holdings in Sight Sciences were worth $1,513,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Sight Sciences by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock valued at $1,045,000 after acquiring an additional 3,051 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares during the period. Rhumbline Advisers grew its stake in shares of Sight Sciences by 9.5% in the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after acquiring an additional 4,319 shares during the period. Finally, Intech Investment Management LLC raised its holdings in shares of Sight Sciences by 26.2% during the second quarter. Intech Investment Management LLC now owns 25,366 shares of the company’s stock valued at $105,000 after purchasing an additional 5,261 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Insider Buying and Selling at Sight Sciences

In related news, CTO David Badawi sold 4,836 shares of Sight Sciences stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $32,014.32. Following the transaction, the chief technology officer directly owned 1,912,273 shares in the company, valued at approximately $12,659,247.26. The trade was a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy B. Hayden sold 6,308 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $41,758.96. Following the sale, the insider directly owned 267,611 shares of the company’s stock, valued at $1,771,584.82. This represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 99,796 shares of company stock worth $719,722. 30.90% of the stock is currently owned by insiders.

Sight Sciences Stock Performance

SGHT opened at $3.67 on Friday. The company’s 50 day moving average is $5.77 and its 200 day moving average is $5.73. The company has a current ratio of 10.22, a quick ratio of 9.52 and a debt-to-equity ratio of 0.63. The company has a market cap of $198.22 million, a price-to-earnings ratio of -4.89 and a beta of 2.43. Sight Sciences, Inc. has a 12-month low of $2.03 and a 12-month high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. The business had revenue of $20.39 million during the quarter, compared to analysts’ expectations of $20.35 million. On average, equities research analysts predict that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SGHT. Piper Sandler set a $9.00 price objective on shares of Sight Sciences in a research report on Monday, January 5th. Citigroup decreased their target price on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. UBS Group lowered their price target on Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 6th. William Blair restated an “outperform” rating on shares of Sight Sciences in a research note on Thursday, March 5th. Finally, Morgan Stanley lifted their price objective on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.31.

Sight Sciences Company Profile

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.