Sight Sciences (NASDAQ:SGHT) Research Coverage Started at UBS Group

UBS Group started coverage on shares of Sight Sciences (NASDAQ:SGHT) in a research report released on Friday, MarketBeat reports. The firm issued a buy rating and a $5.50 target price on the stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley lowered their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $5.00 in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.50.

Sight Sciences Trading Up 4.6 %

Shares of SGHT opened at $3.87 on Friday. The stock’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $6.02. The firm has a market capitalization of $196.44 million, a PE 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 quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36.

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

Insider Activity

In other Sight Sciences news, 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 sale, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at $34,295,343.67. The trade was a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 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.

Institutional Trading of Sight Sciences

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Sight Sciences by 5.5% during 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. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 12,709 shares in the last quarter. State Street Corp grew its position in Sight Sciences by 17.4% during the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after acquiring an additional 95,843 shares during the last quarter. Long Focus Capital Management LLC increased its holdings in Sight Sciences by 86.9% in the 2nd 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, Jacobs Levy Equity Management Inc. raised its position in Sight Sciences by 46.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock valued at $1,310,000 after purchasing an additional 65,767 shares during the last quarter. 55.51% of the stock is 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.