Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $5.12

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $5.12.

Several research analysts have recently issued reports on SGHT shares. Morgan Stanley dropped their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Citigroup reduced their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. UBS Group began coverage on shares of Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th.

Sight Sciences Stock Performance

Shares of SGHT opened at $3.58 on Tuesday. The company has a market capitalization of $181.70 million, a PE ratio of -3.51 and a beta of 2.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences has a one year low of $3.30 and a one year high of $8.45. The company’s fifty day moving average price is $4.07 and its 200 day moving average price is $5.66.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, analysts expect that Sight Sciences will post -1.01 earnings per share for the current year.

Insider Transactions at Sight Sciences

In related news, insider Matthew Link sold 20,487 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $5.98, for a total transaction of $122,512.26. Following the sale, the insider now owns 685,381 shares in the company, valued at approximately $4,098,578.38. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders purchased 15,000 shares of company stock worth $58,232 and sold 63,052 shares worth $367,522. Corporate insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHT. Geode Capital Management LLC increased 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 last quarter. State Street Corp grew its stake 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 worth $4,075,000 after purchasing an additional 95,843 shares during the last quarter. Long Focus Capital Management LLC increased its stake in shares of Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after buying an additional 260,594 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Sight Sciences by 46.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after purchasing an additional 65,767 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Sight Sciences by 5.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after buying an additional 10,000 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.