Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $3.83

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $3.83.

SGHT has been the subject of a number of recent research reports. Citigroup dropped their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. UBS Group dropped their target price on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday, March 6th. Lake Street Capital dropped their price objective on Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, March 6th. Finally, Stifel Nicolaus reduced their target price on Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 6th.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $2.88 on Friday. The firm has a 50 day simple moving average of $2.78 and a 200 day simple moving average of $4.18. Sight Sciences has a fifty-two week low of $2.17 and a fifty-two week high of $8.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The firm has a market cap of $147.84 million, a P/E ratio of -2.82 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The firm had revenue of $19.07 million for the quarter, compared to the consensus estimate of $18.98 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. During the same quarter in the previous year, the firm earned ($0.22) EPS. Sell-side analysts predict that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manohar K. Raheja acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the acquisition, the executive vice president now owns 145,000 shares of the company’s stock, valued at $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 63,014 shares of company stock worth $197,295. 28.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. KCK LTD. acquired a new stake in Sight Sciences in the 4th quarter valued at approximately $15,925,000. Long Focus Capital Management LLC raised its holdings in shares of Sight Sciences by 158.8% in the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after purchasing an additional 1,373,535 shares during the last quarter. B Group Inc. acquired a new stake in Sight Sciences in the 4th quarter valued at $2,291,000. Prosight Management LP lifted its position in Sight Sciences by 71.1% during 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Sight Sciences by 654.3% during the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after buying an additional 340,906 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.