Prosight Management LP Sells 431,746 Shares of Sight Sciences, Inc. $SGHT

Prosight Management LP decreased its position in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 49.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 439,941 shares of the company’s stock after selling 431,746 shares during the period. Prosight Management LP owned about 0.83% of Sight Sciences worth $1,513,000 at the end of the most recent quarter.

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

Insider Activity

In related news, CEO Paul Badawi sold 25,356 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $7.43, for a total value of $188,395.08. Following the completion of the transaction, the chief executive officer directly owned 5,937,146 shares in the company, valued at $44,112,994.78. The trade was a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Badawi sold 4,836 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $32,014.32. Following the completion of the transaction, the chief technology officer directly owned 1,912,273 shares in the company, valued at $12,659,247.26. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 99,796 shares of company stock worth $719,722. Corporate insiders own 30.90% of the company’s stock.

Sight Sciences Price Performance

SGHT opened at $3.67 on Friday. The stock has a 50-day moving average price of $5.77 and a 200-day moving average price of $5.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 10.22 and a quick ratio of 9.52. The firm has a market cap of $198.22 million, a PE ratio of -4.89 and a beta of 2.43. Sight Sciences, Inc. has a 1 year low of $2.03 and a 1 year high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. The company had revenue of $20.39 million for the quarter, compared to the consensus estimate of $20.35 million. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. Sell-side analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. UBS Group dropped their price objective on shares of Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Stifel Nicolaus upped their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Raymond James Financial set a $9.00 target price on shares of Sight Sciences in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.31.

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.