Renaissance Technologies LLC Acquires 340,906 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

Renaissance Technologies LLC raised its position in shares of Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) by 654.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 393,006 shares of the company's stock after purchasing an additional 340,906 shares during the period. Renaissance Technologies LLC owned 0.77% of Sight Sciences worth $1,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SGHT. KCK LTD. acquired a new stake in shares of Sight Sciences in the 4th quarter worth approximately $15,925,000. Geode Capital Management LLC grew its holdings in shares of Sight Sciences by 1.1% in 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 last quarter. State Street Corp raised its position in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company's stock worth $4,075,000 after purchasing an additional 95,843 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sight Sciences by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,250 shares of the company's stock valued at $976,000 after purchasing an additional 11,259 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Sight Sciences by 5.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company's stock valued at $1,174,000 after purchasing an additional 10,000 shares during the period. Institutional investors own 55.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SGHT. Piper Sandler reduced their target price on Sight Sciences from $5.50 to $3.50 and set a "neutral" rating for the company in a report on Thursday, March 6th. UBS Group reduced their price objective on Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Citigroup lowered their target price on Sight Sciences from $4.60 to $3.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Lake Street Capital reduced their price target on shares of Sight Sciences from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price target on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Sight Sciences currently has an average rating of "Hold" and an average price target of $3.83.

Sight Sciences Stock Down 1.0 %

Shares of Sight Sciences stock traded down $0.03 during trading on Friday, hitting $3.05. 196,512 shares of the stock traded hands, compared to its average volume of 210,526. The stock has a market cap 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 price of $2.65 and a two-hundred day moving average price of $3.32. 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 quick ratio of 9.74 and a current ratio of 10.18.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (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 business had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. During the same quarter last year, the firm earned ($0.22) earnings per share. Equities research analysts predict that Sight Sciences, Inc. will post -0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Manohar K. Raheja purchased 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the purchase, the executive vice president now owns 145,000 shares in the company, valued at $395,850. The trade was a 7.41 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul Badawi sold 24,174 shares of the 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 transaction, the chief executive officer now directly owns 6,010,580 shares in the company, valued at approximately $13,824,334. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,196 shares of company stock worth $81,001. Corporate insiders own 28.90% of the company's stock.

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.