Sight Sciences’ (SGHT) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a research report released on Friday, Benzinga reports. The brokerage currently has a $6.00 target price on the stock, up from their previous target price of $5.00.

Separately, Needham & Company LLC reaffirmed a hold rating on shares of Sight Sciences in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Sight Sciences currently has a consensus rating of Hold and an average price target of $4.70.

Sight Sciences Price Performance

SGHT stock traded up $0.04 on Friday, reaching $6.00. 5,584 shares of the company’s stock were exchanged, compared to its average volume of 215,321. The stock has a fifty day moving average of $5.11 and a 200-day moving average of $4.19. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $10.97. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, March 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.13. Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 42.84%. The company had revenue of $18.75 million during the quarter, compared to analysts’ expectations of $18.70 million. During the same quarter in the previous year, the business posted ($0.35) earnings per share. On average, analysts predict that Sight Sciences will post -1.04 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 12,571 shares of Sight Sciences stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $63,860.68. Following the transaction, the chief executive officer now owns 5,750,729 shares in the company, valued at approximately $29,213,703.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Alison Bauerlein sold 10,123 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total value of $51,424.84. Following the completion of the transaction, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul Badawi sold 12,571 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $63,860.68. Following the completion of the transaction, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at approximately $29,213,703.32. The disclosure for this sale can be found here. Insiders sold 34,129 shares of company stock worth $173,375 in the last 90 days. 27.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. Mirae Asset Global Investments Co. Ltd. lifted 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 buying an additional 9,106 shares during the last quarter. RTW Investments LP bought a new position in Sight Sciences during the 4th quarter worth approximately $850,000. Tower Research Capital LLC TRC lifted its holdings in Sight Sciences by 180.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after buying an additional 7,764 shares during the last quarter. UBS Group AG lifted its holdings in Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after buying an additional 2,881,750 shares during the last quarter. Finally, Jackson Square Partners LLC lifted its holdings in Sight Sciences by 12.0% during the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after buying an additional 174,737 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.