Brokerages Set Sight Sciences, Inc. (NASDAQ:SGHT) Target Price at $3.83

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com 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 brokers that have issued ratings on the stock in the last year is $3.83.

SGHT has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Piper Sandler decreased their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. Stifel Nicolaus cut their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, UBS Group cut their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th.

Sight Sciences Trading Down 1.3 %

Shares of NASDAQ:SGHT opened at $2.94 on Friday. Sight Sciences has a 12-month low of $2.17 and a 12-month high of $8.45. The business has a 50 day moving average of $2.77 and a 200-day moving average of $4.16. 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 stock has a market cap of $150.92 million, a PE ratio of -2.88 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. During the same quarter last year, the firm earned ($0.22) earnings per share. As a group, equities research analysts forecast that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 16th. The stock was 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 in the company, valued at approximately $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Manohar K. Raheja bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the transaction, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 63,014 shares of company stock valued at $197,295. 28.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sight Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KCK LTD. acquired a new stake in shares of Sight Sciences in the 4th quarter worth about $15,925,000. Long Focus Capital Management LLC boosted its position 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 buying an additional 1,373,535 shares during 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 lifted its stake in Sight Sciences by 71.1% during 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Sight Sciences by 654.3% during the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after acquiring an additional 340,906 shares during the last quarter. 55.51% of the stock is owned by 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.