Sight Sciences, Inc. (NASDAQ:SGHT) Given Consensus Rating of “Moderate Buy” by Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.8750.

A number of brokerages recently commented on SGHT. UBS Group lifted their target price on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Finally, Citigroup reissued a “neutral” rating on shares of Sight Sciences in a research note on Thursday, August 13th.

Sight Sciences Stock Up 1.7%

Shares of SGHT opened at $8.55 on Friday. The firm has a market cap of $471.02 million, a P/E ratio of -15.27 and a beta of 2.38. The stock has a 50 day simple moving average of $6.26 and a two-hundred day simple moving average of $5.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. Sight Sciences has a 1 year low of $3.19 and a 1 year high of $9.24.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.10. The firm had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. On average, analysts forecast that Sight Sciences will post -0.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeremy B. Hayden sold 12,733 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the transaction, the insider owned 357,037 shares in the company, valued at approximately $1,967,273.87. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Badawi sold 7,418 shares of Sight Sciences stock in a transaction on Monday, July 6th. The stock was sold at an average price of $5.51, for a total transaction of $40,873.18. Following the completion of the transaction, the chief technology officer directly owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. The trade was a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 58,566 shares of company stock valued at $318,827 in the last 90 days. 30.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Sight Sciences during the 1st quarter valued at approximately $128,000. Strs Ohio bought a new stake in shares of Sight Sciences in the 1st quarter worth approximately $158,000. Rhumbline Advisers grew its position in shares of Sight Sciences by 9.5% in the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company’s stock worth $120,000 after buying an additional 4,319 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Sight Sciences by 5.5% during the second quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock valued at $3,494,000 after buying an additional 43,791 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Sight Sciences during the second quarter valued at approximately $67,000. Hedge funds and other institutional investors 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.