Sight Sciences, Inc. (NASDAQ:SGHT) Receives Average Rating of “Hold” from Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $4.68.

SGHT has been the subject of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Morgan Stanley reduced their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Stifel Nicolaus reduced their price objective on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Citigroup reduced their price objective on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a report on Wednesday, December 11th.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 13,000 shares of company stock valued at $50,832 and sold 63,014 shares valued at $197,295. 28.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of SGHT. KCK LTD. acquired a new stake in Sight Sciences in the 4th quarter valued at about $15,925,000. Long Focus Capital Management LLC lifted its holdings in Sight Sciences by 158.8% in the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock valued at $8,149,000 after acquiring an additional 1,373,535 shares during the last quarter. B Group Inc. acquired a new stake in Sight Sciences in the 4th quarter valued at about $2,291,000. Prosight Management LP lifted its holdings in Sight Sciences by 71.1% in the 4th quarter. Prosight Management LP now owns 908,847 shares of the company’s stock valued at $3,308,000 after acquiring an additional 377,625 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Sight Sciences by 654.3% during the fourth quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock valued at $1,431,000 after buying an additional 340,906 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Up 1.2 %

Sight Sciences stock opened at $2.49 on Wednesday. The company has a 50-day simple moving average of $3.06 and a 200-day simple moving average of $4.58. The firm has a market capitalization of $126.39 million, a P/E ratio of -2.44 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a one year low of $2.29 and a one year high of $8.45.

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.