Sight Sciences, Inc. (NASDAQ:SGHT) Receives $7.88 Consensus Target Price from Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $7.8750.

SGHT has been the topic of several analyst reports. UBS Group lifted their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. Citigroup restated a “neutral” rating on shares of Sight Sciences in a research note on Thursday, August 13th. Finally, Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th.

Insider Activity at Sight Sciences

In related news, insider Jeremy Hayden sold 12,733 shares of Sight Sciences stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $70,158.83. Following the completion of the sale, the insider directly owned 357,037 shares in the company, valued at $1,967,273.87. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Rodberg sold 6,902 shares of the business’s 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 sale, the chief financial officer directly owned 224,037 shares in the company, valued at approximately $1,200,838.32. This represents a 2.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 58,566 shares of company stock valued at $318,827. Company insiders own 30.40% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its position in Sight Sciences by 21.6% during the 2nd quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock worth $255,000 after purchasing an additional 8,297 shares during the period. Bank of America Corp DE purchased a new stake in shares of Sight Sciences in the second quarter worth about $520,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sight Sciences in the second quarter worth about $299,000. The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences during the second quarter worth about $60,000. Finally, Algert Global LLC raised its position in Sight Sciences by 25.3% during the second quarter. Algert Global LLC now owns 28,266 shares of the company’s stock valued at $153,000 after acquiring an additional 5,706 shares in the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Price Performance

Shares of SGHT opened at $8.49 on Thursday. The company has a 50 day moving average price of $7.15 and a 200-day moving average price of $5.45. Sight Sciences has a fifty-two week low of $3.19 and a fifty-two week high of $9.24. The stock has a market capitalization of $467.71 million, a PE ratio of -15.16 and a beta of 2.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The company had revenue of $23.39 million during the quarter, compared to the consensus estimate of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. Equities analysts predict that Sight Sciences will post -0.52 earnings per share for the current fiscal year.

About Sight Sciences

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for common eye diseases. The company’s products are designed to address glaucoma and dry eye disease, with an emphasis on minimally invasive procedures and technologies intended for use by eye-care professionals.

Its glaucoma portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to help reduce intraocular pressure by improving the eye’s natural fluid outflow pathways.