Acadian Asset Management LLC Has $1.03 Million Holdings in Sight Sciences, Inc. $SGHT

Key Points

• Acadian Asset Management LLC significantly increased its stake in Sight Sciences, Inc. by 127.7% during the first quarter, now holding approximately 0.84% of the company valued at $1.03 million.
• Sight Sciences' stock rose by 7.9% to $3.69, with the company reporting positive quarterly earnings that exceeded analysts' expectations.
• The stock has received multiple analyst upgrades, with a current average rating of "Hold" and a target price of $4.42.

Acadian Asset Management LLC lifted its position in shares of Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) by 127.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,541 shares of the company's stock after acquiring an additional 242,559 shares during the period. Acadian Asset Management LLC owned approximately 0.84% of Sight Sciences worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SGHT. Northern Trust Corp lifted its holdings in shares of Sight Sciences by 2.1% during the 4th quarter. Northern Trust Corp now owns 332,491 shares of the company's stock worth $1,210,000 after acquiring an additional 6,727 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Sight Sciences during the 4th quarter worth approximately $262,000. D. E. Shaw & Co. Inc. lifted 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 acquiring an additional 88,738 shares during the period. Millennium Management LLC bought a new stake in shares of Sight Sciences during the 4th quarter worth approximately $464,000. Finally, ProShare Advisors LLC bought a new stake in shares of Sight Sciences during the 4th quarter worth approximately $36,000. Institutional investors own 55.51% of the company's stock.

Insider Buying and Selling at Sight Sciences

In other news, insider Jeremy B. Hayden sold 9,160 shares of the firm's stock in a transaction 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 transaction, the insider owned 266,321 shares of the company's stock, valued at approximately $1,110,558.57. This trade represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 23,637 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total transaction of $98,093.55. Following the sale, the chief executive officer owned 5,986,943 shares of the company's stock, valued at approximately $24,845,813.45. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,365 shares of company stock valued at $180,017 in the last ninety days. Insiders own 28.90% of the company's stock.

Sight Sciences Trading Down 2.4%

Shares of SGHT stock traded down $0.09 during trading hours on Friday, hitting $3.60. 231,676 shares of the company's stock traded hands, compared to its average volume of 109,234. The stock's 50 day simple moving average is $3.76 and its 200 day simple moving average is $3.42. The stock has a market cap of $188.53 million, a PE ratio of -3.75 and a beta of 2.46. Sight Sciences, Inc. has a 12 month low of $2.03 and a 12 month high of $6.90. 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 (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (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 net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Sight Sciences, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SGHT shares. Lake Street Capital raised shares of Sight Sciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $3.00 to $5.00 in a report on Friday, August 8th. Wall Street Zen raised shares of Sight Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Piper Sandler reissued a "neutral" rating and issued a $4.00 price objective (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Citigroup increased their price objective on shares of Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $4.42.

Sight Sciences Company 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.