Sight Sciences (NASDAQ:SGHT) Receives “Hold” Rating from Needham & Company LLC

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a report released on Friday, Benzinga reports.

A number of other equities research analysts have also recently weighed in on SGHT. Morgan Stanley lifted their price objective on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Citigroup lifted their target price on Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 price target (up previously 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.70.

Sight Sciences Price Performance

Shares of SGHT opened at $7.42 on Friday. The firm has a 50-day simple moving average of $6.89 and a two-hundred day simple moving average of $5.66. The stock has a market cap of $369.22 million, a PE ratio of -6.62 and a beta of 2.75. Sight Sciences has a 1-year low of $1.04 and a 1-year high of $9.03. The company has a debt-to-equity ratio of 0.31, a current ratio of 13.01 and a quick ratio of 12.42.

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

Insiders Place Their Bets

In other news, CFO Alison Bauerlein sold 13,066 shares of Sight Sciences 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 completion of the transaction, the chief financial officer now 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 accessible through this link. In other Sight Sciences news, CEO Paul Badawi sold 12,569 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $6.42, for a total transaction of $80,692.98. Following the completion of the transaction, the chief executive officer now owns 5,738,160 shares in the company, valued at approximately $36,838,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alison Bauerlein sold 13,066 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $5.42, for a total transaction of $70,817.72. Following the completion of the sale, the chief financial officer now 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 a total of 47,840 shares of company stock worth $290,061 in the last quarter. 28.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently modified their holdings of SGHT. RTW Investments LP acquired a new stake in Sight Sciences in the fourth quarter valued at $850,000. UBS Group AG increased its holdings in shares of Sight Sciences by 20,282.6% in the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock valued at $14,943,000 after acquiring an additional 2,881,750 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Sight Sciences by 198.1% during the 4th 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the last quarter. Finally, Jackson Square Partners LLC boosted its holdings 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 valued at $8,409,000 after purchasing an additional 174,737 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.