Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) PT at $6.42

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus rating of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.42.

A number of analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Citigroup increased their price objective on Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, August 2nd. Finally, Lake Street Capital started coverage on shares of Sight Sciences in a report on Wednesday, August 21st. They issued a “buy” rating and a $10.00 target price on the stock.

Sight Sciences Price Performance

Shares of SGHT stock opened at $6.38 on Friday. The stock’s 50-day moving average is $6.76 and its 200 day moving average is $5.99. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50. Sight Sciences has a 1-year low of $1.04 and a 1-year high of $8.45. The company has a market cap of $320.98 million, a P/E ratio of -5.70 and a beta of 2.73.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. The business had revenue of $21.37 million for the quarter, compared to analyst estimates of $21.32 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. During the same quarter in the prior year, the firm posted ($0.30) EPS. Research analysts predict that Sight Sciences will post -1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alison Bauerlein sold 10,497 shares of Sight Sciences stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total value of $65,186.37. Following the transaction, the chief financial officer now directly owns 402,685 shares of the company’s stock, valued at $2,500,673.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Alison Bauerlein sold 10,497 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total value of $65,186.37. Following the completion of the sale, the chief financial officer now directly owns 402,685 shares in the company, valued at $2,500,673.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeremy B. Hayden sold 5,055 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $31,391.55. Following the completion of the sale, the insider now directly owns 163,565 shares of the company’s stock, valued at $1,015,738.65. The disclosure for this sale can be found here. Insiders sold 34,774 shares of company stock worth $219,243 over the last ninety days. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. grew its position in Sight Sciences by 198.1% in the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after purchasing an additional 39,333 shares in the last quarter. Jackson Square Partners LLC increased its holdings in Sight Sciences by 12.0% in the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after buying an additional 174,737 shares during the period. UBS Group AG grew its holdings 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 valued at $14,943,000 after purchasing an additional 2,881,750 shares during the last quarter. RTW Investments LP bought a new stake in shares of Sight Sciences during the 4th quarter valued at approximately $850,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in 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 worth $141,000 after acquiring an additional 9,106 shares during the last quarter. 55.51% of the stock is 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.