Sight Sciences (NASDAQ:SGHT) Stock Rating Lowered by Lake Street Capital

Lake Street Capital cut shares of Sight Sciences (NASDAQ:SGHT) from a buy rating to a hold rating in a report issued on Monday, MarketBeat reports. They currently have $5.00 target price on the stock, down from their previous target price of $10.00.

Several other research firms also recently issued reports on SGHT. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, August 2nd. Citigroup boosted their price target on shares of Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley raised their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

Sight Sciences Stock Performance

SGHT opened at $4.68 on Monday. The business has a fifty day simple moving average of $5.98 and a 200-day simple moving average of $6.25. The firm has a market cap of $235.44 million, a PE ratio of -4.37 and a beta of 2.74. 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 fifty-two week low of $1.58 and a fifty-two week high of $8.45.

Insider Transactions at Sight Sciences

In related news, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total transaction of $76,234.73. Following the transaction, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Matthew Link sold 20,734 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $5.91, for a total transaction of $122,537.94. Following the completion of the sale, the insider now directly owns 726,838 shares in the company, valued at approximately $4,295,612.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,357 shares of company stock valued at $574,666 over the last three months. 28.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

Institutional investors have recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its position in Sight Sciences by 25.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after acquiring an additional 76,549 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after purchasing an additional 81,768 shares during the last quarter. Long Focus Capital Management LLC boosted its holdings in Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in Sight Sciences by 256.6% during the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after buying an additional 60,220 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.