Jacobs Levy Equity Management Inc. Purchases 65,767 Shares of Sight Sciences, Inc. (NASDAQ:SGHT)

Jacobs Levy Equity Management Inc. lifted its position in shares of Sight Sciences, Inc. (NASDAQ:SGHT) by 46.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,893 shares of the company’s stock after acquiring an additional 65,767 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.41% of Sight Sciences worth $1,310,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Steele Capital Management Inc. bought a new stake in Sight Sciences during the 2nd quarter worth about $67,000. SG Americas Securities LLC bought a new stake in shares of Sight Sciences during the third quarter worth approximately $75,000. The Manufacturers Life Insurance Company acquired a new position in Sight Sciences in the second quarter valued at approximately $95,000. GSA Capital Partners LLP bought a new position in Sight Sciences in the third quarter valued at approximately $136,000. Finally, American Century Companies Inc. grew its holdings in Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Price Performance

Shares of SGHT opened at $3.87 on Monday. The stock has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $6.02. Sight Sciences, Inc. has a 52-week low of $2.58 and a 52-week high of $8.45. 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 firm has a market capitalization of $196.44 million, a PE ratio of -3.79 and a beta of 2.58.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Morgan Stanley lowered their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Piper Sandler reissued a “neutral” rating and set a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Finally, UBS Group initiated coverage on shares of Sight Sciences in a report on Friday. They set a “buy” rating and a $5.50 price objective for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at $34,295,343.67. The trade was a 0.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Alison Bauerlein sold 10,130 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $61,590.40. Following the completion of the transaction, the chief financial officer now directly owns 392,555 shares of the company’s stock, valued at approximately $2,386,734.40. This trade represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 10,000 shares of company stock valued at $38,982 and have sold 97,357 shares valued at $574,666. Company insiders own 28.90% of the company’s stock.

Sight Sciences Company Profile

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.