Jacobs Levy Equity Management Inc. Sells 135,268 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

Jacobs Levy Equity Management Inc. decreased its holdings in shares of Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) by 65.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,625 shares of the company's stock after selling 135,268 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.14% of Sight Sciences worth $264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. grew its stake 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 valued at $1,494,000 after acquiring an additional 88,738 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Sight Sciences during the fourth quarter valued at approximately $151,000. BNP Paribas Financial Markets bought a new position in shares of Sight Sciences in the fourth quarter worth approximately $262,000. Northern Trust Corp increased its stake in shares of Sight Sciences by 2.1% in the fourth quarter. Northern Trust Corp now owns 332,491 shares of the company's stock worth $1,210,000 after purchasing an additional 6,727 shares in the last quarter. Finally, Long Focus Capital Management LLC increased its stake in shares of Sight Sciences by 158.8% in the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company's stock worth $8,149,000 after purchasing an additional 1,373,535 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SGHT has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. Stifel Nicolaus lowered their price objective on Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Citigroup reiterated a "neutral" rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a research report on Thursday. Lake Street Capital lifted their target price on Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Finally, Piper Sandler dropped their price target on Sight Sciences from $5.50 to $3.50 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.02.

Insider Activity

In other Sight Sciences news, EVP Manohar K. Raheja purchased 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, with a total value of $27,300.00. Following the completion of the purchase, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. This trade represents a 7.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul Badawi sold 24,174 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the transaction, the chief executive officer now owns 6,010,580 shares of the company's stock, valued at $13,824,334. This trade represents a 0.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,196 shares of company stock worth $81,001. 30.90% of the stock is currently owned by insiders.

Sight Sciences Price Performance

Shares of Sight Sciences stock traded down $0.08 during trading on Friday, reaching $3.20. 60,585 shares of the stock traded hands, compared to its average volume of 214,824. Sight Sciences, Inc. has a 52-week low of $2.03 and a 52-week high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The business has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $3.10. The company has a market capitalization of $165.43 million, a price-to-earnings ratio of -3.14 and a beta of 2.41.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The company had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.51 million. Sell-side analysts expect that Sight Sciences, Inc. will post -0.99 EPS for the current year.

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.