Manohar K. Raheja Buys 10,000 Shares of Sight Sciences, Inc. (NASDAQ:SGHT) Stock

Sight Sciences, Inc. (NASDAQ:SGHT) EVP Manohar K. Raheja acquired 10,000 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at approximately $395,850. The trade was a 7.41 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sight Sciences Price Performance

Shares of SGHT stock opened at $2.72 on Friday. The firm has a market capitalization of $138.05 million, a price-to-earnings ratio of -2.67 and a beta of 2.52. Sight Sciences, Inc. has a 12-month low of $2.17 and a 12-month high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $2.80 and a 200-day moving average of $4.27.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The business had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, equities research analysts forecast that Sight Sciences, Inc. will post -0.99 earnings per share for the current year.

Analyst Ratings Changes

SGHT has been the subject of a number of recent research reports. Lake Street Capital dropped their price target on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Thursday, March 6th. Stifel Nicolaus lowered their target price on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Citigroup cut their price target on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Piper Sandler decreased their price objective on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Finally, UBS Group cut their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Sight Sciences has a consensus rating of “Hold” and an average price target of $3.83.

Institutional Trading of Sight Sciences

A number of large investors have recently bought and sold shares of the business. KCK LTD. bought a new stake in shares of Sight Sciences during the fourth quarter worth $15,925,000. Barclays PLC boosted its stake in Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after purchasing an additional 38,248 shares during the period. Millrace Asset Group Inc. bought a new position in Sight Sciences during the 3rd quarter worth about $874,000. Geode Capital Management LLC raised its stake in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after purchasing an additional 12,709 shares during the period. Finally, State Street Corp lifted its holdings in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after purchasing an additional 95,843 shares in the last quarter. 55.51% of the stock is owned by institutional investors.

Sight Sciences Company Profile

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.