Americana Partners LLC Raises Stake in Sight Sciences, Inc. $SGHT

Americana Partners LLC boosted its position in Sight Sciences, Inc. (NASDAQ:SGHT) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,378,980 shares of the company’s stock after buying an additional 149,161 shares during the quarter. Americana Partners LLC’s holdings in Sight Sciences were worth $10,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after purchasing an additional 3,785 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares during the period. R Squared Ltd purchased a new stake in shares of Sight Sciences during the third quarter valued at approximately $64,000. XTX Topco Ltd purchased a new stake in shares of Sight Sciences during the second quarter valued at approximately $67,000. Finally, Alliancebernstein L.P. grew its stake in shares of Sight Sciences by 5.5% in the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after acquiring an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Paul Badawi sold 29,244 shares of Sight Sciences stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $3.70, for a total transaction of $108,202.80. Following the completion of the sale, the chief executive officer directly owned 6,151,156 shares in the company, valued at approximately $22,759,277.20. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 13,761 shares of Sight Sciences stock in a transaction on Monday, April 6th. The stock was sold at an average price of $3.55, for a total value of $48,851.55. Following the sale, the insider owned 369,770 shares of the company’s stock, valued at approximately $1,312,683.50. This trade represents a 3.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,273 shares of company stock valued at $221,764 in the last three months. 30.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. William Blair reaffirmed an “outperform” rating on shares of Sight Sciences in a research report on Thursday, March 5th. Stifel Nicolaus raised their target price on Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Citigroup decreased their price objective on Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, UBS Group decreased their target price on Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.31.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $5.03 on Friday. The stock has a market cap of $273.68 million, a price-to-earnings ratio of -7.08 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86. The stock has a 50 day moving average price of $4.15 and a 200-day moving average price of $5.83. Sight Sciences, Inc. has a one year low of $3.11 and a one year high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The company had revenue of $19.70 million during the quarter, compared to analysts’ expectations of $18.47 million. Equities analysts expect that Sight Sciences, Inc. will post -0.6 EPS for the current year.

Sight Sciences Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.