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

Sight Sciences, Inc. (NASDAQ:SGHT) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $6.80.

Several research analysts have recently weighed in on SGHT shares. Citigroup increased their price target on Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Morgan Stanley increased their price target on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, August 2nd. Finally, Lake Street Capital assumed coverage on shares of Sight Sciences in a research report on Wednesday, August 21st. They set a “buy” rating and a $10.00 price target for the company.

Sight Sciences Stock Up 2.8 %

SGHT stock opened at $6.58 on Friday. The firm has a market capitalization of $331.04 million, a PE ratio of -5.87 and a beta of 2.73. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $8.45. The stock’s 50 day moving average is $6.77 and its 200-day moving average is $6.01.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, August 1st. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. The company had revenue of $21.37 million during the quarter, compared to the consensus estimate of $21.32 million. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Sell-side analysts expect that Sight Sciences will post -1 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 12,569 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $80,692.98. Following the completion of the transaction, the chief executive officer now owns 5,738,160 shares in the company, valued at $36,838,987.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Paul Badawi sold 12,569 shares of Sight Sciences stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $80,692.98. Following the sale, the chief executive officer now directly owns 5,738,160 shares in the company, valued at $36,838,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alison Bauerlein sold 10,497 shares of Sight Sciences stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $65,186.37. Following the transaction, the chief financial officer now directly owns 402,685 shares of the company’s stock, valued at $2,500,673.85. The disclosure for this sale can be found here. Insiders have sold a total of 34,774 shares of company stock worth $219,243 in the last 90 days. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. RTW Investments LP bought a new stake in shares of Sight Sciences in the fourth quarter worth approximately $850,000. Jacobs Levy Equity Management Inc. grew its holdings in Sight Sciences by 25.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after buying an additional 76,549 shares in the last quarter. UBS Group AG increased its stake in Sight Sciences by 20,282.6% in the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after acquiring an additional 2,881,750 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Sight Sciences by 198.1% during the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after acquiring an additional 39,333 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Sight Sciences by 51.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after purchasing an additional 9,106 shares during the last quarter. 55.51% of the stock is currently owned by 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.