Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Recommendation of “Hold” by Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $4.70.

SGHT has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Sight Sciences in a report on Friday, May 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd.

Sight Sciences Trading Up 2.0 %

SGHT stock opened at $6.67 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 12.42 and a current ratio of 13.01. The company’s 50-day simple moving average is $6.03 and its 200 day simple moving average is $5.18. Sight Sciences has a 52 week low of $1.04 and a 52 week high of $9.31. The company has a market capitalization of $331.87 million, a PE ratio of -5.96 and a beta of 2.76.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, May 2nd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The company had revenue of $19.27 million during the quarter, compared to the consensus estimate of $18.34 million. Sight Sciences had a negative return on equity of 44.45% and a negative net margin of 67.18%. As a group, sell-side analysts anticipate that Sight Sciences will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $63,860.68. Following the transaction, the chief executive officer now directly 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 is available through this hyperlink. In related news, CFO Alison Bauerlein sold 13,066 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $5.42, for a total value of $70,817.72. Following the sale, the chief financial officer now directly owns 413,182 shares in the company, valued at approximately $2,239,446.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Badawi sold 12,571 shares of the business’s 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 sale, the chief executive officer now owns 5,750,729 shares in the company, valued at $29,213,703.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,195 shares of company stock worth $244,193. Corporate insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. RTW Investments LP bought a new position in Sight Sciences during the fourth quarter valued at approximately $850,000. UBS Group AG lifted its stake in Sight Sciences by 20,282.6% in the fourth quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after acquiring an additional 2,881,750 shares during the period. Panagora Asset Management Inc. lifted its stake in Sight Sciences by 198.1% in the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after acquiring an additional 39,333 shares during the period. Swiss National Bank lifted its stake in Sight Sciences by 19.5% in the third quarter. Swiss National Bank now owns 69,314 shares of the company’s stock worth $234,000 after acquiring an additional 11,300 shares during the period. Finally, Jackson Square Partners LLC lifted its stake in Sight Sciences by 12.0% in the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after acquiring an additional 174,737 shares during the period. 55.51% of the stock is currently owned by institutional investors.

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.