SCS Capital Management LLC Buys Shares of 90,000 Sight Sciences, Inc. $SGHT

SCS Capital Management LLC purchased a new position in shares of Sight Sciences, Inc. (NASDAQ:SGHT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,000 shares of the company’s stock, valued at approximately $488,000. SCS Capital Management LLC owned approximately 0.17% of Sight Sciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in 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 acquiring an additional 3,785 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares in the last quarter. Diversified Trust Co acquired a new position in Sight Sciences in the 1st quarter valued at about $51,000. XTX Topco Ltd acquired a new position in Sight Sciences in the 2nd quarter valued at about $67,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Sight Sciences in the 4th quarter valued at about $81,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $8.14 on Monday. The company has a market cap of $448.43 million, a P/E ratio of -14.54 and a beta of 2.38. The company has a quick ratio of 4.67, a current ratio of 4.95 and a debt-to-equity ratio of 0.58. Sight Sciences, Inc. has a 52 week low of $3.19 and a 52 week high of $9.24. The business has a fifty day simple moving average of $5.59 and a 200-day simple moving average of $4.97.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.10. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%.The firm had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Equities research analysts forecast that Sight Sciences, Inc. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

SGHT has been the topic of several analyst reports. UBS Group raised their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reissued a “neutral” rating on shares of Sight Sciences in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sight Sciences presently has an average rating of “Hold” and a consensus target price of $7.88.

Insider Activity at Sight Sciences

In related news, CFO James Rodberg sold 6,902 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total value of $36,994.72. Following the sale, the chief financial officer directly owned 224,037 shares of the company’s stock, valued at approximately $1,200,838.32. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Badawi sold 28,684 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total transaction of $155,467.28. Following the completion of the sale, the chief executive officer directly owned 6,122,472 shares in the company, valued at $33,183,798.24. This represents a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is owned by insiders.

Sight Sciences Company 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.