Long Focus Capital Management LLC Boosts Holdings in Sight Sciences, Inc. $SGHT

Key Points

• Long Focus Capital Management LLC increased its stake in Sight Sciences, Inc. by 39.7%, bringing their total ownership to over 3 million shares valued at approximately $7.5 million.
• Sight Sciences reported a revenue of $19.56 million for the last quarter, surpassing analysts' expectations, and had a quarterly EPS of -0.23, beating the consensus estimate.
• Multiple analysts have upgraded Sight Sciences' ratings, with Citigroup raising the price target from $3.60 to $4.50, and Lake Street Capital moving from a "hold" to a "buy" rating with a new price objective of $5.00.

Long Focus Capital Management LLC increased its holdings in Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) by 39.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,126,508 shares of the company's stock after buying an additional 887,876 shares during the quarter. Long Focus Capital Management LLC owned about 6.05% of Sight Sciences worth $7,504,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC bought a new stake in Sight Sciences in the 4th quarter worth about $36,000. Wells Fargo & Company MN grew its stake in shares of Sight Sciences by 53.4% during 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. Marshall Wace LLP bought a new stake in shares of Sight Sciences during the 4th quarter valued at about $96,000. Foster Victor Wealth Advisors LLC bought a new stake in shares of Sight Sciences during the 1st quarter valued at about $85,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Sight Sciences during the 4th quarter valued at about $151,000. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Stock Performance

Shares of SGHT stock traded down $0.07 during trading hours on Wednesday, reaching $3.80. 95,215 shares of the company traded hands, compared to its average volume of 195,472. Sight Sciences, Inc. has a 12-month low of $2.03 and a 12-month high of $7.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. The company has a market cap of $199.01 million, a P/E ratio of -3.96 and a beta of 2.46. The firm has a 50-day moving average price of $3.85 and a 200 day moving average price of $3.33.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, beating 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 firm had revenue of $19.56 million for the quarter, compared to analysts' expectations of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total value of $38,197.20. Following the transaction, the insider directly owned 266,321 shares of the company's stock, valued at approximately $1,110,558.57. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the transaction, the chief executive officer directly owned 5,986,943 shares in the company, valued at approximately $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,365 shares of company stock worth $180,017. 28.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SGHT shares. Lake Street Capital upgraded Sight Sciences from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.00 to $5.00 in a research note on Friday, August 8th. Piper Sandler restated a "neutral" rating and set a $4.00 price target (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Citigroup boosted their price target on Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Wall Street Zen upgraded Sight Sciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC restated 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 given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.42.

About Sight Sciences

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.