Geode Capital Management LLC Increases Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Geode Capital Management LLC increased its position in Sight Sciences, Inc. (NASDAQ:SGHT) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784,129 shares of the company’s stock after acquiring an additional 12,709 shares during the period. Geode Capital Management LLC’s holdings in Sight Sciences were worth $4,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Sight Sciences during the third quarter worth about $75,000. The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences during the 2nd quarter valued at approximately $95,000. GSA Capital Partners LLP purchased a new stake in shares of Sight Sciences in the 3rd quarter valued at $136,000. American Century Companies Inc. raised its holdings in shares of Sight Sciences by 31.1% during the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after purchasing an additional 8,527 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Sight Sciences by 40.1% during the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after purchasing an additional 11,671 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SGHT. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Morgan Stanley lowered their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Citigroup dropped their price target on shares of 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, UBS Group initiated coverage on Sight Sciences in a research report on Friday, December 6th. They issued a “buy” rating and a $5.50 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and an average price target of $5.12.

Sight Sciences Stock Down 2.5 %

Shares of SGHT opened at $3.49 on Friday. The stock has a 50 day moving average price of $4.01 and a 200 day moving average price of $5.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock has a market capitalization of $177.13 million, a price-to-earnings ratio of -3.42 and a beta of 2.58. Sight Sciences, Inc. has a one year low of $3.30 and a one year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. Equities research analysts forecast that Sight Sciences, Inc. will post -1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Matthew Link sold 20,487 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.98, for a total value of $122,512.26. Following the completion of the sale, the insider now directly owns 685,381 shares in the company, valued at $4,098,578.38. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have acquired 15,000 shares of company stock valued at $58,232 and have sold 63,052 shares valued at $367,522. Corporate insiders own 28.90% of the company’s stock.

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.