Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) PT at $7.75

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.75.

A number of equities analysts have weighed in on SGHT shares. UBS Group initiated coverage on shares of Sight Sciences in a research report on Tuesday, July 28th. They set a “buy” rating and a $7.00 price objective for the company. Weiss Ratings lowered shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Citigroup boosted their target price on shares of Sight Sciences from $5.15 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th.

Insider Activity at Sight Sciences

In other Sight Sciences news, CFO James Rodberg sold 6,902 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total transaction of $36,994.72. Following the completion of the transaction, the chief financial officer owned 224,037 shares of the company’s stock, valued at $1,200,838.32. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Badawi sold 28,684 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $5.42, for a total value of $155,467.28. Following the completion of the transaction, the chief executive officer owned 6,122,472 shares in the company, valued at approximately $33,183,798.24. This trade represents a 0.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 58,566 shares of company stock valued at $318,827. 30.40% of the stock is owned by corporate insiders.

Institutional Trading of Sight Sciences

Several large investors have recently made changes to their positions in SGHT. Renaissance Technologies LLC increased its position in shares of Sight Sciences by 6.3% during the first quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock worth $1,106,000 after purchasing an additional 17,458 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sight Sciences by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock valued at $1,288,000 after purchasing an additional 40,346 shares in the last quarter. WealthTrust Asset Management LLC lifted its holdings in Sight Sciences by 14.1% in the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock valued at $168,000 after purchasing an additional 5,529 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Sight Sciences by 7,118.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 69,300 shares of the company’s stock worth $261,000 after purchasing an additional 68,340 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Sight Sciences during the 1st quarter worth $147,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Sight Sciences Trading Up 2.0%

Shares of SGHT stock opened at $5.64 on Wednesday. Sight Sciences has a 1-year low of $3.19 and a 1-year high of $9.24. The company has a market cap of $306.87 million, a price-to-earnings ratio of -7.94 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 5.86 and a quick ratio of 5.48. The stock has a 50 day simple moving average of $5.13 and a 200-day simple moving average of $4.91.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05). The company had revenue of $19.70 million during the quarter, compared to analyst estimates of $18.46 million. Sight Sciences had a negative net margin of 46.83% and a negative return on equity of 52.34%. On average, equities research analysts expect that Sight Sciences will post -0.6 EPS for the current fiscal year.

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.