SCS Capital Management LLC Invests $488,000 in Sight Sciences, Inc. $SGHT

SCS Capital Management LLC bought a new position in Sight Sciences, Inc. (NASDAQ:SGHT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 90,000 shares of the company’s stock, valued at approximately $488,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SGHT. Integral Health Asset Management LLC purchased a new stake in Sight Sciences during the fourth quarter valued at about $3,370,000. Invesco Ltd. acquired a new stake in shares of Sight Sciences in the fourth quarter worth $2,791,000. Walleye Capital LLC purchased a new position in shares of Sight Sciences in the 4th quarter valued at $2,332,000. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences in the 2nd quarter valued at $908,000. Finally, Informed Momentum Co LLC acquired a new position in shares of Sight Sciences during the 4th quarter valued at $1,299,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Citigroup restated a “neutral” rating on shares of Sight Sciences in a research note on Thursday. Finally, Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Five investment 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’s stock. According to data from MarketBeat.com, Sight Sciences presently has a consensus rating of “Hold” and an average price target of $7.88.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $8.14 on Monday. Sight Sciences, Inc. has a 12 month low of $3.19 and a 12 month high of $9.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. The firm has a market capitalization of $448.43 million, a P/E ratio of -14.54 and a beta of 2.38. The company’s fifty day moving average price is $5.59 and its two-hundred day moving average price is $4.97.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $23.39 million during the quarter, compared to analysts’ expectations of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. On average, research analysts anticipate that Sight Sciences, Inc. will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Rodberg sold 6,902 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total value of $36,994.72. Following the transaction, the chief financial officer owned 224,037 shares in the company, valued at approximately $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 12,733 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is owned by insiders.

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.