D. E. Shaw & Co. Inc. Acquires 88,738 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

D. E. Shaw & Co. Inc. increased its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 27.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 410,325 shares of the company’s stock after purchasing an additional 88,738 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.81% of Sight Sciences worth $1,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SGHT. Long Focus Capital Management LLC raised its stake in Sight Sciences by 158.8% during the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after acquiring an additional 1,373,535 shares during the period. Geode Capital Management LLC grew its stake in Sight Sciences by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock valued at $2,887,000 after acquiring an additional 8,731 shares in the last quarter. B Group Inc. bought a new position in shares of Sight Sciences during the 4th quarter valued at about $2,291,000. Renaissance Technologies LLC boosted its stake in Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock valued at $1,431,000 after buying an additional 340,906 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Sight Sciences by 2.1% during the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company’s stock worth $1,210,000 after acquiring an additional 6,727 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Manohar K. Raheja bought 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the acquisition, the executive vice president now owns 145,000 shares of the company’s stock, valued at $395,850. This trade represents a 7.41% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 24,174 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 6,010,580 shares in the company, 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. In the last three months, insiders have sold 35,196 shares of company stock worth $81,001. 30.90% of the stock is currently owned by company insiders.

Sight Sciences Price Performance

Shares of SGHT stock opened at $3.28 on Friday. Sight Sciences, Inc. has a twelve month low of $2.03 and a twelve month high of $8.45. 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 fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $3.13. The stock has a market capitalization of $169.56 million, a price-to-earnings ratio of -3.22 and a beta of 2.41.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $17.51 million for the quarter, compared to analysts’ expectations of $16.51 million. On average, analysts predict that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SGHT. Lake Street Capital boosted their target price on shares of Sight Sciences from $2.50 to $3.00 and gave the stock a “hold” rating in a report on Friday, May 9th. Piper Sandler lowered their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Citigroup raised their price target on Sight Sciences from $3.20 to $3.60 and gave the stock a “neutral” rating in a research note on Thursday. Finally, 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 report on Monday, January 27th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.02.

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.