GSA Capital Partners LLP Makes New Investment in Sight Sciences, Inc. $SGHT

GSA Capital Partners LLP bought a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 167,564 shares of the company’s stock, valued at approximately $908,000. GSA Capital Partners LLP owned about 0.31% of Sight Sciences at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SGHT. BNP Paribas Financial Markets grew its holdings in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the period. Diversified Trust Co bought a new position in Sight Sciences in the first quarter valued at about $51,000. XTX Topco Ltd purchased a new position in Sight Sciences in the second quarter worth about $67,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in Sight Sciences in the fourth quarter worth about $81,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SGHT has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating on shares of Sight Sciences in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a report on Friday, August 7th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, UBS Group boosted their price objective on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, August 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.88.

Sight Sciences Stock Down 0.2%

Shares of SGHT stock opened at $8.22 on Wednesday. The company has a market capitalization of $452.84 million, a price-to-earnings ratio of -14.68 and a beta of 2.38. Sight Sciences, Inc. has a one year low of $3.19 and a one year high of $9.24. The company’s fifty day moving average price is $5.73 and its 200-day moving average price is $5.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67.

Sight Sciences (NASDAQ:SGHT) last issued 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 net margin of 35.69% and a negative return on equity of 43.39%. The company had revenue of $23.39 million during the quarter, compared to the consensus estimate of $21.72 million. Sell-side analysts expect that Sight Sciences, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Rodberg sold 6,902 shares of Sight Sciences stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the sale, the chief financial officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 12,733 shares of Sight Sciences stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the sale, the insider directly owned 357,037 shares in the company, valued at $1,967,273.87. This trade represents a 3.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is currently 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.