Sight Sciences, Inc. (NASDAQ:SGHT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given an average recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.75.

Several equities analysts have recently weighed in on SGHT shares. Citigroup raised their price objective on shares of Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Finally, UBS Group initiated coverage on shares of Sight Sciences in a research note on Tuesday, July 28th. They set a “buy” rating and a $7.00 target price for the company.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 28,684 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total value of $155,467.28. Following the transaction, the chief executive officer owned 6,122,472 shares of the company’s stock, valued at approximately $33,183,798.24. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Badawi sold 7,418 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $40,873.18. Following the sale, the chief technology officer owned 1,982,872 shares of the company’s stock, valued at $10,925,624.72. This trade represents a 0.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,566 shares of company stock worth $318,827 over the last three months. Corporate insiders own 30.40% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Sight Sciences by 99.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after purchasing an additional 3,785 shares during the period. Tower Research Capital LLC TRC increased its stake in Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares in the last quarter. Diversified Trust Co acquired a new stake in Sight Sciences during the 1st quarter worth about $51,000. XTX Topco Ltd acquired a new stake in Sight Sciences during the 2nd quarter worth about $67,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Sight Sciences during the 4th quarter worth about $81,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.26 on Wednesday. The stock has a 50-day simple moving average of $5.11 and a 200 day simple moving average of $4.92. Sight Sciences has a fifty-two week low of $3.11 and a fifty-two week high of $9.24. The stock has a market capitalization of $286.20 million, a P/E ratio of -7.41 and a beta of 2.38. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The firm had revenue of $19.70 million for the quarter, compared to analyst estimates of $18.46 million. On average, sell-side analysts expect that Sight Sciences will post -0.6 earnings per share for the current fiscal year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.