UBS Group Initiates Coverage on Sight Sciences (NASDAQ:SGHT)

UBS Group initiated coverage on shares of Sight Sciences (NASDAQ:SGHT) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $5.50 price objective on the stock.

Several other analysts have also recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th. Morgan Stanley lowered their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Sight Sciences Stock Performance

Shares of SGHT opened at $3.87 on Friday. The stock’s 50 day moving average is $4.92 and its two-hundred day moving average is $6.02. Sight Sciences has a twelve month low of $2.58 and a twelve 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.

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

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CFO Alison Bauerlein sold 10,130 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $61,590.40. Following the completion of the transaction, the chief financial officer now directly owns 392,555 shares in the company, valued at approximately $2,386,734.40. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 10,000 shares of company stock worth $38,982 and have sold 97,357 shares worth $574,666. 28.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently added to or reduced their stakes in SGHT. Long Focus Capital Management LLC increased its stake in shares of Sight Sciences by 86.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after acquiring an additional 260,594 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Sight Sciences in the second quarter valued at approximately $1,234,000. Millrace Asset Group Inc. acquired a new position in Sight Sciences during the third quarter worth approximately $874,000. State Street Corp raised its stake in Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Sight Sciences by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after purchasing an additional 81,768 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.