BlackRock Inc. Purchases New Shares in Sight Sciences, Inc. $SGHT

BlackRock Inc. acquired a new stake in Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,083,108 shares of the company's stock, valued at approximately $16,710,000. BlackRock Inc. owned approximately 5.67% of Sight Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings 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 purchased a new position in Sight Sciences during the first quarter worth approximately $158,000. Rhumbline Advisers grew its holdings in Sight Sciences by 9.5% in the first 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. Geode Capital Management LLC grew 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 valued at $3,494,000 after purchasing an additional 43,791 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Sight Sciences in the second quarter valued at approximately $67,000. Institutional investors and hedge funds own 55.51% of the company's stock.

Sight Sciences Price Performance

SGHT stock opened at $8.38 on Friday. Sight Sciences, Inc. has a 1 year low of $3.19 and a 1 year 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 $461.65 million, a PE ratio of -14.96 and a beta of 2.50. The business has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $5.21.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%.The business had revenue of $23.39 million for the quarter, compared to analyst estimates of $21.72 million. Equities research analysts anticipate that Sight Sciences, Inc. will post -0.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SGHT. UBS Group upped their target price on Sight Sciences from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Sight Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings restated a "sell (e+)" rating on shares of Sight Sciences in a research report on Friday, August 7th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Sight Sciences in a report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $7.88.

Insiders Place Their Bets

In related news, CTO David Badawi sold 7,418 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $5.51, for a total transaction of $40,873.18. Following the completion of the sale, the chief technology officer directly owned 1,982,872 shares of the company's stock, valued at approximately $10,925,624.72. This trade represents a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeremy B. Hayden sold 12,733 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the completion of the sale, the insider owned 357,037 shares in the company, valued at approximately $1,967,273.87. This trade represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,566 shares of company stock worth $318,827 over the last ninety days. Company insiders own 30.40% of the company's stock.

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.

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