Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) Price Target at $4.02

Sight Sciences, Inc. (NASDAQ:SGHT) has received an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.02.

A number of equities research analysts recently commented on SGHT shares. Stifel Nicolaus decreased their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Citigroup reaffirmed a “neutral” rating and set a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a research note on Thursday, May 22nd. Lake Street Capital increased their target price on Sight Sciences from $2.50 to $3.00 and gave the stock a “hold” rating in a report on Friday, May 9th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Wednesday, April 9th. Finally, Piper Sandler decreased their price objective on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a report on Thursday, March 6th.

Sight Sciences Trading Up 3.3%

Shares of SGHT opened at $4.02 on Friday. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $207.82 million, a price-to-earnings ratio of -3.94 and a beta of 2.41. The stock’s 50-day moving average price is $2.94 and its 200 day moving average price is $3.08.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The company had revenue of $17.51 million for the quarter, compared to analyst estimates of $16.51 million. As a group, research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Sight Sciences news, EVP Manohar K. Raheja purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the transaction, the executive vice president now owns 145,000 shares in the company, valued at approximately $395,850. This represents a 7.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the completion of the sale, the chief executive officer now owns 6,010,580 shares of the company’s stock, valued at approximately $13,824,334. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,196 shares of company stock worth $81,001 over the last three months. Insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SGHT. Long Focus Capital Management LLC boosted its stake in shares of Sight Sciences by 158.8% during the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after purchasing an additional 1,373,535 shares in the last quarter. B Group Inc. purchased a new position in shares of Sight Sciences during the fourth quarter valued at approximately $2,291,000. Prosight Management LP boosted its position in Sight Sciences by 71.1% in the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after purchasing an additional 377,625 shares during the last quarter. Renaissance Technologies LLC boosted its position in Sight Sciences by 654.3% in the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after purchasing an additional 340,906 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Sight Sciences by 127.7% in the first quarter. Acadian Asset Management LLC now owns 432,541 shares of the company’s stock valued at $1,033,000 after buying an additional 242,559 shares during the period. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.