Sight Sciences (NASDAQ:SGHT) PT Raised to $6.50

Sight Sciences (NASDAQ:SGHT) had its target price raised by equities research analysts at Citigroup from $6.00 to $6.50 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential downside of 13.56% from the company’s previous close.

Several other brokerages have also commented on SGHT. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd. Piper Sandler reiterated a “neutral” rating and set a $6.00 price objective (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.20.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $7.52 on Wednesday. The firm has a market capitalization of $374.20 million, a P/E ratio of -6.71 and a beta of 2.74. The company has a quick ratio of 12.42, a current ratio of 13.01 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $6.19 and its two-hundred day simple moving average is $5.38. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $9.31.

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

Insiders Place Their Bets

In other Sight Sciences news, CFO Alison Bauerlein sold 13,066 shares of Sight Sciences stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $5.42, for a total value of $70,817.72. Following the transaction, the chief financial officer now directly owns 413,182 shares of the company’s stock, valued at approximately $2,239,446.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Paul Badawi sold 12,569 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $80,692.98. Following the transaction, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alison Bauerlein sold 13,066 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $5.42, for a total value of $70,817.72. Following the transaction, the chief financial officer now directly owns 413,182 shares in the company, valued at $2,239,446.44. The disclosure for this sale can be found here. Insiders have sold 47,840 shares of company stock valued at $290,061 in the last ninety days. Company insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Hedge funds have recently made changes to their positions in the business. UBS Group AG boosted its position in shares of Sight Sciences by 20,282.6% during the fourth quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock valued at $14,943,000 after purchasing an additional 2,881,750 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of Sight Sciences by 12.0% during the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after purchasing an additional 174,737 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after purchasing an additional 81,768 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Sight Sciences by 25.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after purchasing an additional 76,549 shares in the last quarter. Finally, RTW Investments LP bought a new stake in shares of Sight Sciences during the fourth quarter valued at approximately $850,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

About Sight Sciences

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.