Sight Sciences, Inc. $SGHT Position Lessened by Walleye Capital LLC

Walleye Capital LLC decreased its position in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 95.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,709 shares of the company’s stock after selling 280,403 shares during the period. Walleye Capital LLC’s holdings in Sight Sciences were worth $52,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Sight Sciences during the 1st quarter worth about $128,000. Strs Ohio bought a new stake in shares of Sight Sciences in the 1st quarter valued at approximately $158,000. Rhumbline Advisers grew its stake in shares of Sight Sciences by 9.5% in the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after buying an additional 4,319 shares in the last quarter. Geode Capital Management LLC increased its holdings in Sight Sciences by 5.5% in the second quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after buying an additional 43,791 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Sight Sciences in the second quarter worth approximately $67,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Up 4.5%

SGHT opened at $4.91 on Friday. The firm has a market cap of $267.15 million, a P/E ratio of -6.92 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86. The business has a 50 day moving average price of $5.07 and a 200 day moving average price of $5.02. Sight Sciences, Inc. has a twelve month low of $3.11 and a twelve month high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The company had revenue of $19.70 million for the quarter, compared to analyst estimates of $18.46 million. Research analysts forecast that Sight Sciences, Inc. will post -0.6 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Citigroup lifted their target price on shares of Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings downgraded shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $8.25.

Insider Activity

In related news, CEO Paul Badawi sold 28,684 shares of Sight Sciences stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $5.42, for a total value of $155,467.28. Following the transaction, the chief executive officer owned 6,122,472 shares in the company, valued at $33,183,798.24. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Rodberg sold 6,902 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the transaction, the chief financial officer directly owned 224,037 shares of the company’s stock, valued at approximately $1,200,838.32. This represents a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 58,566 shares of company stock valued at $318,827. 30.40% of the stock is owned by corporate insiders.

Sight Sciences 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.