Sight Sciences (NASDAQ:SGHT) Price Target Lowered to $11.00 at UBS Group

Sight Sciences (NASDAQ:SGHT) had its target price trimmed by UBS Group from $12.00 to $11.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SGHT has been the subject of a number of other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Monday, December 29th. Citigroup decreased their target price on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus upped their target price on shares of Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Piper Sandler set a $9.00 price target on shares of Sight Sciences in a research note on Monday, January 5th. Finally, Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a report on Monday. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.31.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT traded down $0.25 during trading on Friday, hitting $3.71. 909,892 shares of the stock were exchanged, compared to its average volume of 302,638. The company has a market capitalization of $200.38 million, a price-to-earnings ratio of -4.95 and a beta of 2.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 8.93 and a current ratio of 10.22. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $9.24. The company’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $5.75.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Wednesday, March 4th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. Sight Sciences had a negative return on equity of 55.72% and a negative net margin of 49.67%.The business had revenue of $20.39 million during the quarter, compared to analyst estimates of $20.35 million. Sell-side analysts expect that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeremy B. Hayden sold 6,308 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $6.62, for a total value of $41,758.96. Following the sale, the insider owned 267,611 shares of the company’s stock, valued at approximately $1,771,584.82. This represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James Rodberg sold 4,405 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.82, for a total transaction of $34,447.10. Following the sale, the chief financial officer owned 154,440 shares of the company’s stock, valued at $1,207,720.80. This trade represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 99,796 shares of company stock worth $719,722 over the last 90 days. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of Sight Sciences

Several hedge funds have recently modified their holdings of SGHT. Alliancebernstein L.P. raised its stake in shares of Sight Sciences by 5.5% in the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock valued at $118,000 after acquiring an additional 1,800 shares during the last quarter. Deutsche Bank AG grew its position in Sight Sciences by 9.8% during the 4th quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock worth $217,000 after acquiring an additional 2,439 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after purchasing an additional 2,875 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Sight Sciences by 1.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock valued at $1,045,000 after purchasing an additional 3,051 shares in the last quarter. Finally, CWM LLC raised its position in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after purchasing an additional 3,137 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.