Renaissance Technologies LLC Boosts Stock Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Renaissance Technologies LLC lifted its holdings in shares of Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) by 654.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,006 shares of the company's stock after acquiring an additional 340,906 shares during the quarter. Renaissance Technologies LLC owned 0.77% of Sight Sciences worth $1,431,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in Sight Sciences during the fourth quarter valued at about $40,000. Wells Fargo & Company MN increased 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 worth $60,000 after purchasing an additional 5,781 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Sight Sciences by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 792,860 shares of the company's stock worth $2,887,000 after acquiring an additional 8,731 shares during the period. JPMorgan Chase & Co. raised its position in shares of Sight Sciences by 52.7% in the fourth quarter. JPMorgan Chase & Co. now owns 106,351 shares of the company's stock valued at $387,000 after purchasing an additional 36,691 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $50,000. 55.51% of the stock is currently owned by institutional investors.

Insider Transactions at Sight Sciences

In other Sight Sciences news, EVP Manohar K. Raheja purchased 10,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $395,850. This trade represents a 7.41 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul Badawi sold 24,174 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total value of $55,600.20. Following the completion of the sale, the chief executive officer now directly owns 6,010,580 shares of the company's stock, valued at approximately $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. 28.90% of the stock is currently owned by insiders.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT traded down $0.10 during trading on Wednesday, reaching $3.05. The company had a trading volume of 165,810 shares, compared to its average volume of 209,306. Sight Sciences, Inc. has a 12 month low of $2.03 and a 12 month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $157.67 million, a P/E ratio of -2.99 and a beta of 2.46. The company has a fifty day moving average of $2.62 and a two-hundred day moving average of $3.39.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. During the same period in the prior year, the company earned ($0.22) EPS. Equities research analysts forecast that Sight Sciences, Inc. will post -0.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on SGHT. Stifel Nicolaus reduced their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Lake Street Capital reduced their price target on Sight Sciences from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Thursday, March 6th. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. UBS Group reduced their target price on Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Finally, Piper Sandler lowered their price target on shares of Sight Sciences from $5.50 to $3.50 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Sight Sciences has a consensus rating of "Hold" and a consensus price target of $3.83.

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.