Sight Sciences (NASDAQ:SGHT) Price Target Increased to $6.50 by Analysts at Citigroup

Sight Sciences (NASDAQ:SGHT) had its price target upped by Citigroup from $6.00 to $6.50 in a report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on SGHT. Piper Sandler reissued a neutral rating and set a $6.00 price target (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. Needham & Company LLC reissued a hold rating on shares of Sight Sciences in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $5.20.

Sight Sciences Stock Down 4.4 %

Shares of Sight Sciences stock opened at $6.15 on Wednesday. The business has a fifty day simple moving average of $6.15 and a 200 day simple moving average of $5.36. The stock has a market cap of $306.02 million, a PE ratio of -5.49 and a beta of 2.74. The company has a quick ratio of 12.42, a current ratio of 13.01 and a debt-to-equity ratio of 0.31. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $9.31.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, May 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The company had revenue of $19.27 million for the quarter, compared to analyst estimates of $18.34 million. Sight Sciences had a negative return on equity of 44.45% and a negative net margin of 67.18%. Research analysts predict that Sight Sciences will post -1.13 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 12,569 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $80,692.98. Following the completion of the transaction, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Alison Bauerlein sold 13,066 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $5.42, for a total transaction of $70,817.72. Following the completion of the transaction, the chief financial officer now directly owns 413,182 shares in the company, valued at approximately $2,239,446.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Badawi sold 12,569 shares of Sight Sciences stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $6.42, for a total value of $80,692.98. Following the completion of the sale, the chief executive officer now directly owns 5,738,160 shares in the company, valued at approximately $36,838,987.20. The disclosure for this sale can be found here. Insiders have sold 47,840 shares of company stock valued at $290,061 in the last 90 days. 28.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. UBS Group AG raised its stake in shares of Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after purchasing an additional 2,881,750 shares in the last quarter. Jackson Square Partners LLC raised its position in Sight Sciences by 12.0% during the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after acquiring an additional 174,737 shares in the last quarter. Vanguard Group Inc. raised its position in Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after acquiring an additional 81,768 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Sight Sciences by 25.5% in 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 during the last quarter. Finally, RTW Investments LP bought a new position in shares of Sight Sciences in the 4th quarter valued at about $850,000. 55.51% of the stock is currently 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.