Sight Sciences (NASDAQ:SGHT) Receives Neutral Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a $6.00 target price on the stock, up from their prior target price of $5.00.

Separately, Needham & Company LLC reissued a hold rating on shares of Sight Sciences in a research report on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $4.70.

Sight Sciences Stock Up 6.2 %

Sight Sciences stock traded up $0.35 during mid-day trading on Friday, hitting $5.96. 92,267 shares of the company’s stock were exchanged, compared to its average volume of 171,268. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26. The stock has a market cap of $295.32 million, a P/E ratio of -5.32 and a beta of 2.73. Sight Sciences has a 1-year low of $1.04 and a 1-year high of $11.00. The stock has a 50 day moving average of $5.11 and a two-hundred day moving average of $4.19.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, March 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.13. The firm had revenue of $18.75 million for the quarter, compared to the consensus estimate of $18.70 million. Sight Sciences had a negative net margin of 67.18% and a negative return on equity of 42.84%. During the same period in the prior year, the business posted ($0.35) earnings per share. As a group, analysts anticipate that Sight Sciences will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alison Bauerlein sold 10,123 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $51,424.84. Following the completion of the sale, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Alison Bauerlein sold 10,123 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $51,424.84. Following the completion of the sale, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $63,860.68. Following the completion of the sale, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at approximately $29,213,703.32. The disclosure for this sale can be found here. Insiders sold a total of 34,129 shares of company stock worth $173,375 over the last quarter. Company insiders own 27.10% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after buying an additional 2,881,750 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in Sight Sciences by 45.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 587,297 shares of the company’s stock valued at $1,979,000 after acquiring an additional 183,912 shares during the period. Jackson Square Partners LLC raised its holdings in Sight Sciences by 12.0% in the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after acquiring an additional 174,737 shares during the period. RTW Investments LP bought a new position in Sight Sciences in the 4th quarter valued at about $850,000. Finally, Panagora Asset Management Inc. raised its holdings in Sight Sciences by 198.1% in the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after acquiring an additional 39,333 shares during the period. Institutional investors and hedge funds 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.