Sight Sciences (NASDAQ:SGHT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sight Sciences (NASDAQ:SGHT) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other research firms have also issued reports on SGHT. Weiss Ratings lowered Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup increased their price target on shares of Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, UBS Group raised their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.88.

Sight Sciences Stock Up 3.1%

Shares of NASDAQ SGHT opened at $7.70 on Friday. Sight Sciences has a 12-month low of $3.19 and a 12-month high of $9.24. The stock’s fifty day simple moving average is $5.30 and its two-hundred day simple moving average is $4.92. The stock has a market capitalization of $424.19 million, a PE ratio of -13.75 and a beta of 2.38. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.10. The firm had revenue of $23.39 million during the quarter, compared to analyst estimates of $21.72 million. Sight Sciences had a negative return on equity of 43.39% and a negative net margin of 35.69%. As a group, analysts expect that Sight Sciences will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Rodberg sold 6,902 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the transaction, the chief financial officer directly owned 224,037 shares of the company’s stock, valued at $1,200,838.32. This represents a 2.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeremy B. Hayden sold 12,733 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of the sale, the insider owned 357,037 shares of the company’s stock, valued at approximately $1,967,273.87. This trade represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently modified their holdings of the business. Americana Partners LLC boosted its stake in Sight Sciences by 12.1% in the 4th quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock worth $10,935,000 after purchasing an additional 149,161 shares in the last quarter. Deutsche Bank AG acquired a new position in Sight Sciences during the 2nd quarter valued at approximately $184,000. SCS Capital Management LLC acquired a new position in Sight Sciences during the 2nd quarter valued at approximately $488,000. Bank of New York Mellon Corp purchased a new position in shares of Sight Sciences in the second quarter worth $495,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Sight Sciences in the second quarter worth $908,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

About Sight Sciences

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.