Millrace Asset Group Inc. Makes New Investment in Sight Sciences, Inc. (NASDAQ:SGHT)

Millrace Asset Group Inc. purchased a new stake in Sight Sciences, Inc. (NASDAQ:SGHT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 138,793 shares of the company's stock, valued at approximately $874,000. Millrace Asset Group Inc. owned approximately 0.27% of Sight Sciences as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Jacobs Levy Equity Management Inc. raised its stake in Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company's stock worth $1,991,000 after buying an additional 76,549 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company's stock worth $8,218,000 after acquiring an additional 81,768 shares in the last quarter. Acadian Asset Management LLC lifted its stake 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 worth $556,000 after purchasing an additional 60,220 shares during the last quarter. Long Focus Capital Management LLC lifted its stake in shares of Sight Sciences by 86.9% during the 2nd 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 last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Sight Sciences during the first quarter valued at about $59,000. Hedge funds and other institutional investors own 55.51% of the company's stock.

Insider Activity at Sight Sciences

In other news, CFO Alison Bauerlein sold 10,130 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $61,590.40. Following the transaction, the chief financial officer now owns 392,555 shares in the company, valued at $2,386,734.40. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeremy B. Hayden sold 4,878 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the sale, the insider now owns 158,687 shares of the company's stock, valued at $964,816.96. The trade was a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,357 shares of company stock worth $574,666 in the last three months. Company insiders own 28.90% of the company's stock.

Sight Sciences Price Performance

NASDAQ:SGHT remained flat at $3.98 during trading hours on Tuesday. 291,815 shares of the company's stock traded hands, compared to its average volume of 201,311. The company's 50-day moving average is $5.36 and its 200 day moving average is $6.12. The stock has a market cap of $202.02 million, a PE ratio of -3.90 and a beta of 2.74. Sight Sciences, Inc. has a 12 month low of $2.58 and a 12 month high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. On average, equities analysts predict that Sight Sciences, Inc. will post -1.01 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Lake Street Capital lowered shares of Sight Sciences from a "buy" rating to a "hold" rating and decreased their price target for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Piper Sandler reissued a "neutral" rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a report on Friday, November 8th. Finally, Morgan Stanley decreased their price objective on Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Sight Sciences presently has an average rating of "Hold" and an average price target of $5.50.

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.