Sight Sciences (NASDAQ:SGHT) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Sight Sciences (NASDAQ:SGHT) announced its quarterly earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10, Zacks reports. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. Sight Sciences updated its FY 2025 guidance to EPS.

Sight Sciences Trading Down 0.6%

Shares of SGHT traded down $0.03 during trading hours on Thursday, reaching $5.00. 110,694 shares of the company traded hands, compared to its average volume of 203,877. The firm has a market cap of $261.85 million, a price-to-earnings ratio of -5.21 and a beta of 2.47. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $5.32. The company has a current ratio of 10.01, a quick ratio of 9.49 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average price is $3.99 and its 200 day moving average price is $3.80.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SGHT shares. Lake Street Capital boosted their price target on shares of Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sight Sciences in a research report on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Finally, Citigroup cut their price objective on shares of Sight Sciences from $4.50 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sight Sciences currently has a consensus rating of “Hold” and a consensus target price of $4.67.

Insiders Place Their Bets

In other news, CEO Paul Badawi sold 24,441 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total transaction of $81,632.94. Following the completion of the sale, the chief executive officer directly owned 5,962,502 shares of the company’s stock, valued at approximately $19,914,756.68. The trade was a 0.41% decrease in their ownership of the stock. 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 9,731 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $3.27, for a total transaction of $31,820.37. Following the sale, the insider directly owned 256,590 shares of the company’s stock, valued at $839,049.30. This represents a 3.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,796 shares of company stock valued at $135,173 over the last three months. Insiders own 30.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake 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 worth $48,000 after acquiring an additional 2,875 shares during the period. Rhumbline Advisers increased its holdings in shares of Sight Sciences by 9.5% during the first quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock valued at $120,000 after acquiring an additional 4,319 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Sight Sciences during the second quarter valued at about $67,000. Jane Street Group LLC acquired a new position in shares of Sight Sciences during the second quarter valued at about $148,000. Finally, Geode Capital Management LLC increased its holdings in Sight Sciences by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after buying an additional 43,791 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.