Millennium Management LLC Makes New Investment in Sight Sciences, Inc. (NASDAQ:SGHT)

Millennium Management LLC bought a new stake in Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 127,510 shares of the company's stock, valued at approximately $464,000. Millennium Management LLC owned approximately 0.25% of Sight Sciences as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company's stock valued at $1,431,000 after purchasing an additional 340,906 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Sight Sciences by 53.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after purchasing an additional 5,781 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sight Sciences by 79.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 243,954 shares of the company's stock worth $887,000 after purchasing an additional 108,001 shares during the period. American Century Companies Inc. lifted its position in shares of Sight Sciences by 10.7% during the 4th quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock valued at $188,000 after buying an additional 4,964 shares in the last quarter. Finally, B Group Inc. acquired a new stake in shares of Sight Sciences in the fourth quarter valued at about $2,291,000. 55.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on SGHT shares. 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 report on Thursday, March 6th. Stifel Nicolaus reduced their price target on shares of 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 reaffirmed a "neutral" rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a research note on Thursday, May 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. Finally, Lake Street Capital raised their price target on shares of Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sight Sciences has an average rating of "Hold" and an average target price of $4.02.

Insider Activity at Sight Sciences

In related news, EVP Manohar K. Raheja purchased 10,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the purchase, the executive vice president now directly owns 145,000 shares of the company's stock, valued at $395,850. This trade represents a 7.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the completion of the sale, the chief executive officer now directly owns 6,010,580 shares in the company, valued at approximately $13,824,334. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,196 shares of company stock valued at $81,001 in the last three months. 30.90% of the stock is currently owned by company insiders.

Sight Sciences Stock Up 2.7%

Shares of NASDAQ SGHT traded up $0.11 during midday trading on Tuesday, hitting $4.17. 176,444 shares of the company's stock were exchanged, compared to its average volume of 215,556. The firm's fifty day simple moving average is $3.08 and its 200-day simple moving average is $3.08. The company has a market cap of $215.57 million, a PE ratio of -4.09 and a beta of 2.46. Sight Sciences, Inc. has a twelve month low of $2.03 and a twelve month 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.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.01. The business had revenue of $17.51 million during the quarter, compared to the consensus estimate of $16.51 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. Research analysts predict that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

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.