Jackson Square Partners LLC Reduces Position in Sight Sciences, Inc. (NASDAQ:SGHT)

Jackson Square Partners LLC lowered its stake in Sight Sciences, Inc. (NASDAQ:SGHT) by 74.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,997 shares of the company’s stock after selling 687,062 shares during the period. Jackson Square Partners LLC owned 0.46% of Sight Sciences worth $841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SGHT. Arkadios Wealth Advisors purchased a new position in Sight Sciences in the 4th quarter worth $47,000. WealthTrust Asset Management LLC purchased a new position in shares of Sight Sciences in the fourth quarter worth about $48,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Sight Sciences during the fourth quarter worth about $55,000. SG Americas Securities LLC boosted its position in Sight Sciences by 47.6% in the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock valued at $64,000 after buying an additional 5,681 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Sight Sciences in the 3rd quarter worth approximately $136,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SGHT has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Thursday, March 6th. Lake Street Capital decreased their price objective on Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, March 6th. Citigroup dropped their target price on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.83.

Sight Sciences Price Performance

Shares of Sight Sciences stock opened at $3.07 on Tuesday. The firm has a market cap of $157.59 million, a PE ratio of -3.01 and a beta of 2.52. The business has a 50-day moving average price of $2.76 and a 200 day moving average price of $4.08. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences, Inc. has a twelve month low of $2.17 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The business had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same period in the previous year, the company earned ($0.22) earnings per share. Sell-side analysts predict that Sight Sciences, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, EVP Manohar K. Raheja bought 10,000 shares of Sight Sciences stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at $395,850. The trade was a 7.41 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the completion of the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at $20,567,509.20. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 63,014 shares of company stock valued at $197,295 over the last ninety days. Corporate insiders own 28.90% of the company’s stock.

Sight Sciences 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.