Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $5.50

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $5.50.

A number of equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Lake Street Capital cut shares of Sight Sciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $5.00 in a research note on Monday, November 4th. UBS Group assumed coverage on shares of Sight Sciences in a research note on Friday. They issued a “buy” rating and a $5.50 price target on the stock. Piper Sandler reiterated a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th.

Sight Sciences Trading Up 4.6 %

NASDAQ SGHT opened at $3.87 on Friday. The company has a fifty day simple moving average of $4.87 and a two-hundred day simple moving average of $6.02. The stock has a market cap of $196.44 million, a P/E ratio of -3.79 and a beta of 2.58. Sight Sciences has a 12-month low of $2.58 and a 12-month high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36.

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

Insider Transactions at Sight Sciences

In other Sight Sciences news, CFO Alison Bauerlein sold 10,130 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $61,590.40. Following the transaction, the chief financial officer now owns 392,555 shares in the company, valued at approximately $2,386,734.40. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeremy B. Hayden sold 4,878 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the sale, the insider now directly owns 158,687 shares of the company’s stock, valued at approximately $964,816.96. This trade represents a 2.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 10,000 shares of company stock valued at $38,982 and sold 97,357 shares valued at $574,666. Insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its holdings in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after purchasing an additional 8,527 shares in the last quarter. Steele Capital Management Inc. purchased a new stake in shares of Sight Sciences during the second quarter worth about $67,000. Rhumbline Advisers raised its position in shares of Sight Sciences by 40.1% in the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after buying an additional 11,671 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Sight Sciences during the third quarter valued at approximately $75,000. Finally, Geode Capital Management LLC boosted its position in Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after acquiring an additional 12,709 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.