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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average rating of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $8.3125.

A number of brokerages have issued reports on SGHT. Stifel Nicolaus increased their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Weiss Ratings lowered shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Citigroup cut their target price on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. UBS Group reduced their price target on shares of Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Finally, William Blair reissued an “outperform” rating on shares of Sight Sciences in a report on Thursday, March 5th.

Sight Sciences Trading Up 5.8%

Shares of SGHT stock opened at $5.14 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86. The stock has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $5.84. The firm has a market capitalization of $279.67 million, a PE ratio of -7.24 and a beta of 2.38. Sight Sciences has a 52-week low of $3.11 and a 52-week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. The business had revenue of $19.70 million during the quarter, compared to analysts’ expectations of $18.47 million. On average, analysts predict that Sight Sciences will post -0.6 EPS for the current fiscal year.

Insider Transactions at Sight Sciences

In related news, CFO James Rodberg sold 7,231 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $25,670.05. Following the completion of the transaction, the chief financial officer directly owned 230,939 shares of the company’s stock, valued at approximately $819,833.45. This represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Paul Badawi sold 29,244 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $3.70, for a total transaction of $108,202.80. Following the completion of the transaction, the chief executive officer directly owned 6,151,156 shares of the company’s stock, valued at approximately $22,759,277.20. This trade represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,273 shares of company stock valued at $221,764 over the last three months. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after purchasing an additional 3,785 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares during the period. Diversified Trust Co bought a new position in shares of Sight Sciences during the 1st quarter valued at approximately $51,000. R Squared Ltd bought a new position in shares of Sight Sciences during the 3rd quarter valued at approximately $64,000. Finally, XTX Topco Ltd purchased a new stake in Sight Sciences during the 2nd quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors.

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.