Stoneridge Investment Partners LLC Purchases New Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Stoneridge Investment Partners LLC acquired a new stake in Sight Sciences, Inc. (NASDAQ:SGHT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,235 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Sight Sciences in the 3rd quarter valued at $75,000. Arkadios Wealth Advisors bought a new position in Sight Sciences in the fourth quarter valued at about $47,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the second quarter valued at about $95,000. GSA Capital Partners LLP bought a new stake in shares of Sight Sciences during the third quarter worth about $136,000. Finally, Barclays PLC increased its stake in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after buying an additional 38,248 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

Insider Transactions at Sight Sciences

In related news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now directly owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. This represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders purchased 15,000 shares of company stock valued at $58,232 and sold 63,014 shares valued at $197,295. Insiders own 28.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SGHT. Lake Street Capital reduced their target price on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Stifel Nicolaus reduced their price objective on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Citigroup reduced their price target on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, Morgan Stanley lowered their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average price target of $4.68.

Sight Sciences Stock Up 2.2 %

Shares of Sight Sciences stock opened at $2.77 on Friday. 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 business has a 50-day moving average price of $3.33 and a two-hundred day moving average price of $4.95. Sight Sciences, Inc. has a 1-year low of $2.67 and a 1-year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, sell-side analysts expect that Sight Sciences, Inc. will post -1 earnings per share for the current year.

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.