4,374,975 Shares in Sight Sciences, Inc. $SGHT Acquired by Kck Ltd.

Key Points

• Kck Ltd. acquired 4,374,975 shares of Sight Sciences, Inc. (NASDAQ:SGHT) for approximately $18 million, making it the largest position in their portfolio with an 8.46% ownership.
• Analysts have recently improved their outlook on Sight Sciences, with target prices raised by various firms, now averaging $4.42, while Citigroup rated it as "neutral."
• Sight Sciences reported a negative EPS of $0.23 for the last quarter, surpassing expectations, and had a market capitalization of approximately $181.20 million.

Kck Ltd. acquired a new stake in Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,374,975 shares of the company's stock, valued at approximately $18,069,000. Sight Sciences makes up about 100.0% of Kck Ltd.'s holdings, making the stock its biggest position. Kck Ltd. owned 8.46% of Sight Sciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SGHT. Long Focus Capital Management LLC raised its position in shares of Sight Sciences by 39.7% in the first quarter. Long Focus Capital Management LLC now owns 3,126,508 shares of the company's stock valued at $7,504,000 after buying an additional 887,876 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Sight Sciences by 127.7% during the 1st quarter. Acadian Asset Management LLC now owns 432,541 shares of the company's stock worth $1,033,000 after purchasing an additional 242,559 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Sight Sciences by 314.2% during the 4th quarter. Squarepoint Ops LLC now owns 169,211 shares of the company's stock worth $616,000 after purchasing an additional 128,355 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Sight Sciences during the 4th quarter worth $464,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Sight Sciences by 27.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 410,325 shares of the company's stock worth $1,494,000 after purchasing an additional 88,738 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on SGHT shares. Citigroup increased their target price on Sight Sciences from $3.60 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Morgan Stanley upped their price objective on Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Lake Street Capital upgraded Sight Sciences from a "hold" rating to a "buy" rating and upped their price objective for the stock from $3.00 to $5.00 in a research report on Friday, August 8th. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research report on Thursday, August 28th. Finally, Piper Sandler restated a "neutral" rating and set a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $4.42.

Sight Sciences Price Performance

Sight Sciences stock opened at $3.46 on Monday. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $181.20 million, a PE ratio of -3.60 and a beta of 2.46. Sight Sciences, Inc. has a 12 month low of $2.03 and a 12 month high of $7.03. The stock has a 50-day moving average price of $3.75 and a two-hundred day moving average price of $3.39.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.02. The firm had revenue of $19.56 million during the quarter, compared to the consensus estimate of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. Sight Sciences has set its FY 2025 guidance at EPS. Analysts expect that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Insider Activity

In other news, CEO Paul Badawi sold 23,637 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the sale, the chief executive officer owned 5,986,943 shares of the company's stock, valued at approximately $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeremy B. Hayden sold 9,160 shares of the stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total value of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares of the company's stock, valued at approximately $1,110,558.57. The trade was a 3.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,365 shares of company stock valued at $180,017. Insiders own 28.90% of the company's stock.

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.

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