Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Rating of “Hold” from Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.68.

A number of equities analysts recently weighed in on SGHT shares. Piper Sandler reaffirmed a “neutral” rating and set a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Lake Street Capital dropped their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, January 15th. Citigroup cut their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley dropped their target price on 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. Finally, Stifel Nicolaus cut their price target on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 13,000 shares of company stock valued at $50,832 and have sold 63,014 shares valued at $197,295. 28.90% of the stock is owned by corporate insiders.

Institutional Trading of Sight Sciences

Hedge funds have recently added to or reduced their stakes in the business. KCK LTD. purchased a new position in Sight Sciences during the fourth quarter worth approximately $15,925,000. Long Focus Capital Management LLC increased its holdings in shares of Sight Sciences by 158.8% during the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after buying an additional 1,373,535 shares during the last quarter. Prosight Management LP raised its position in shares of Sight Sciences by 71.1% in the 4th quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after buying an additional 377,625 shares during the period. Geode Capital Management LLC boosted its holdings in Sight Sciences by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock valued at $2,887,000 after acquiring an additional 8,731 shares during the last quarter. Finally, State Street Corp boosted its holdings in Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after acquiring an additional 95,843 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Price Performance

Sight Sciences stock opened at $2.65 on Wednesday. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $3.17 and a 200 day moving average price of $4.68. Sight Sciences has a 12-month low of $2.50 and a 12-month high of $8.45. The stock has a market cap of $134.51 million, a P/E ratio of -2.60 and a beta of 2.52.

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.