Millennium Management LLC Invests $464,000 in Sight Sciences, Inc. (NASDAQ:SGHT)

Millennium Management LLC acquired a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 127,510 shares of the company’s stock, valued at approximately $464,000. Millennium Management LLC owned 0.25% of Sight Sciences at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. D. E. Shaw & Co. Inc. grew its position in Sight Sciences by 27.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 410,325 shares of the company’s stock valued at $1,494,000 after acquiring an additional 88,738 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Sight Sciences in the fourth quarter valued at $151,000. BNP Paribas Financial Markets bought a new stake in Sight Sciences in the fourth quarter valued at $262,000. Northern Trust Corp grew its position in Sight Sciences by 2.1% in the fourth quarter. Northern Trust Corp now owns 332,491 shares of the company’s stock valued at $1,210,000 after acquiring an additional 6,727 shares during the period. Finally, Long Focus Capital Management LLC grew its position in Sight Sciences by 158.8% in the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after acquiring an additional 1,373,535 shares during the period. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Stock Down 3.3%

SGHT stock opened at $4.06 on Tuesday. Sight Sciences, Inc. has a twelve month low of $2.03 and a twelve month high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The stock’s 50 day moving average is $3.08 and its 200-day moving average is $3.08. The firm has a market capitalization of $209.89 million, a PE ratio of -3.98 and a beta of 2.46.

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

Insider Buying and Selling

In related news, EVP Manohar K. Raheja purchased 10,000 shares of the business’s stock in a transaction that occurred 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 purchase, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at $395,850. The trade was a 7.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Badawi sold 24,174 shares of Sight Sciences 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 directly owns 6,010,580 shares in the company, valued at approximately $13,824,334. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,196 shares of company stock valued at $81,001. Company insiders own 30.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SGHT. Piper Sandler lowered their price target on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Citigroup restated a “neutral” rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Stifel Nicolaus cut their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Lake Street Capital upped their price target on Sight Sciences from $2.50 to $3.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Wednesday, April 9th. 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 stock currently has a consensus rating of “Hold” and a consensus price target of $4.02.

Sight Sciences 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.