Millrace Asset Group Inc. Acquires New Shares in Sight Sciences, Inc. (NASDAQ:SGHT)

Millrace Asset Group Inc. bought a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 138,793 shares of the company’s stock, valued at approximately $874,000. Millrace Asset Group Inc. owned 0.27% of Sight Sciences at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its stake in Sight Sciences by 25.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after acquiring an additional 76,549 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sight Sciences by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after purchasing an additional 81,768 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Sight Sciences by 256.6% during the 2nd quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock valued at $556,000 after purchasing an additional 60,220 shares in the last quarter. Long Focus Capital Management LLC increased its holdings in shares of Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Sight Sciences in the first quarter worth $59,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Sight Sciences

In other news, insider Matthew Link sold 21,831 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This represents a 3.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alison Bauerlein sold 10,130 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $61,590.40. Following the completion of the transaction, the chief financial officer now directly owns 392,555 shares in the company, valued at approximately $2,386,734.40. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,357 shares of company stock valued at $574,666 in the last quarter. 28.90% of the stock is owned by insiders.

Sight Sciences Trading Down 0.7 %

NASDAQ:SGHT opened at $3.98 on Tuesday. Sight Sciences, Inc. has a 12 month low of $2.58 and a 12 month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $5.36 and a 200-day moving average price of $6.12. The stock has a market cap of $202.02 million, a price-to-earnings ratio of -3.90 and a beta of 2.74.

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

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.