Lake Street Capital Cuts Sight Sciences (NASDAQ:SGHT) Price Target to $3.00

Sight Sciences (NASDAQ:SGHT) had its target price lowered by research analysts at Lake Street Capital from $5.00 to $3.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Lake Street Capital’s target price points to a potential downside of 3.54% from the company’s previous close.

Several other equities analysts have also issued reports on SGHT. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Tuesday. Morgan Stanley cut their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Citigroup reduced their target price on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a report on Wednesday, December 11th. UBS Group assumed coverage on Sight Sciences in a research note on Friday, December 6th. They set a “buy” rating and a $5.50 price objective on the stock. Finally, Piper Sandler reiterated a “neutral” rating and set a $5.50 target price (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sight Sciences has a consensus rating of “Hold” and a consensus price target of $4.72.

Sight Sciences Stock Down 1.3 %

SGHT traded down $0.04 on Wednesday, reaching $3.11. 50,744 shares of the company traded hands, compared to its average volume of 204,633. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences has a 52-week low of $3.10 and a 52-week high of $8.45. The stock’s 50 day moving average price is $3.76 and its 200-day moving average price is $5.47. The company has a market cap of $157.85 million, a price-to-earnings ratio of -3.05 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. On average, sell-side analysts expect that Sight Sciences will post -1.01 EPS for the current fiscal year.

Insider Activity

In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the completion of the sale, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,236 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the completion of the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at $20,567,509.20. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders bought 15,000 shares of company stock worth $58,232 and sold 68,168 shares worth $335,489. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. American Century Companies Inc. raised its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after purchasing an additional 8,527 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Sight Sciences by 5.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock valued at $1,174,000 after purchasing an additional 10,000 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after acquiring an additional 11,671 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Sight Sciences during the 3rd quarter valued at $75,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.