Kck Ltd. Buys New Shares in Sight Sciences, Inc. $SGHT

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. bought a new position in shares of Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,374,975 shares of the company's stock, valued at approximately $18,069,000. Sight Sciences accounts for about 100.0% of KCK LTD.'s investment portfolio, making the stock its largest position. KCK LTD. owned approximately 8.46% of Sight Sciences at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SGHT. Rhumbline Advisers grew its position in 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 purchasing an additional 4,319 shares during the period. Northern Trust Corp boosted its stake in shares of Sight Sciences by 2.1% in the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company's stock worth $1,210,000 after buying an additional 6,727 shares during the last quarter. ProShare Advisors LLC purchased a new position in shares of Sight Sciences in the 4th quarter worth approximately $36,000. WealthTrust Asset Management LLC boosted its stake in shares of Sight Sciences by 230.2% in the 1st quarter. WealthTrust Asset Management LLC now owns 43,590 shares of the company's stock worth $105,000 after buying an additional 30,390 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC purchased a new position in Sight Sciences in the first quarter worth $85,000. Institutional investors and hedge funds own 55.51% of the company's stock.

Insider Buying and Selling

In related news, CEO Paul Badawi sold 23,637 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total value of $98,093.55. Following the sale, the chief executive officer directly owned 5,986,943 shares of the company's stock, valued at $24,845,813.45. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeremy B. Hayden sold 9,160 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares in the company, valued at $1,110,558.57. This represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,365 shares of company stock worth $180,017 over the last ninety days. 30.90% of the stock is currently owned by insiders.

Sight Sciences Price Performance

Shares of SGHT stock traded down $0.08 on Friday, reaching $3.61. The company's stock had a trading volume of 97,366 shares, compared to its average volume of 190,004. The company has a quick ratio of 9.49, a current ratio of 10.01 and a debt-to-equity ratio of 0.57. Sight Sciences, Inc. has a 12-month low of $2.03 and a 12-month high of $6.90. The company has a market capitalization of $188.85 million, a P/E ratio of -3.76 and a beta of 2.46. The stock's 50 day simple moving average is $3.76 and its 200-day simple moving average is $3.40.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%.The company had revenue of $19.56 million for the quarter, compared to the consensus estimate of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Lake Street Capital raised Sight Sciences from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $3.00 to $5.00 in a research report on Friday, August 8th. Morgan Stanley boosted their price target on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded shares of Sight Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Finally, Citigroup upped their price objective on Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Sight Sciences currently has a consensus rating of "Hold" and a consensus target price of $4.42.

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.