Stifel Nicolaus Issues Positive Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price target hoisted by analysts at Stifel Nicolaus from $6.00 to $8.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 47.19% from the company’s current price.

Several other research analysts have also issued reports on SGHT. Piper Sandler set a $9.00 target price on Sight Sciences in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research note on Monday, December 29th. William Blair raised shares of Sight Sciences to a “strong-buy” rating in a research note on Friday, January 30th. Raymond James Financial set a $9.00 price objective on Sight Sciences in a research note on Monday, January 5th. Finally, Cantor Fitzgerald set a $8.00 price target on Sight Sciences in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.76.

Sight Sciences Stock Performance

SGHT stock traded up $0.28 during trading on Monday, reaching $5.44. The stock had a trading volume of 327,109 shares, compared to its average volume of 255,353. The firm has a market cap of $287.35 million, a PE ratio of -6.04 and a beta of 2.43. The company has a current ratio of 9.60, a quick ratio of 8.93 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $6.58 and its two-hundred day moving average is $5.75. Sight Sciences has a 52 week low of $2.03 and a 52 week high of $9.24.

Insiders Place Their Bets

In other news, CFO James Rodberg sold 4,405 shares of Sight Sciences stock in a transaction on Monday, January 5th. The stock was sold at an average price of $7.82, for a total value of $34,447.10. Following the completion of the sale, the chief financial officer directly owned 154,440 shares of the company’s stock, valued at approximately $1,207,720.80. This trade represents a 2.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David Badawi sold 4,836 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $32,014.32. Following the completion of the sale, the chief technology officer owned 1,912,273 shares in the company, valued at approximately $12,659,247.26. This trade represents a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 99,796 shares of company stock worth $719,722 over the last ninety days. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Sight Sciences during the 4th quarter worth approximately $109,000. Invesco Ltd. bought a new position in shares of Sight Sciences in the fourth quarter valued at approximately $2,791,000. Occudo Quantitative Strategies LP bought a new stake in Sight Sciences during the fourth quarter worth $185,000. Millennium Management LLC boosted its holdings in shares of Sight Sciences by 99.4% in the 4th quarter. Millennium Management LLC now owns 266,919 shares of the company’s stock worth $2,117,000 after buying an additional 133,073 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in Sight Sciences by 4.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 100,733 shares of the company’s stock worth $799,000 after buying an additional 4,300 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 is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.