Sight Sciences (NASDAQ:SGHT) Downgraded by Lake Street Capital to Hold

Lake Street Capital lowered shares of Sight Sciences (NASDAQ:SGHT) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Marketbeat.com reports. Lake Street Capital currently has $5.00 price target on the stock, down from their prior price target of $10.00.

Other analysts have also recently issued reports about the company. Citigroup increased their target price on Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.

Sight Sciences Stock Up 4.1 %

Shares of SGHT traded up $0.19 during trading hours on Monday, reaching $4.85. The stock had a trading volume of 11,341 shares, compared to its average volume of 194,564. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50. The firm has a 50-day moving average of $6.10 and a 200 day moving average of $6.27. Sight Sciences has a 52 week low of $1.58 and a 52 week high of $8.45.

Insiders Place Their Bets

In related news, CFO Alison Bauerlein sold 10,130 shares of Sight Sciences stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $61,590.40. Following the sale, the chief financial officer now owns 392,555 shares of the company’s stock, valued at approximately $2,386,734.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Alison Bauerlein sold 10,130 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $61,590.40. Following 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,357 shares of company stock valued at $574,666 in the last three months. 28.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sight Sciences

A number of hedge funds have recently made changes to their positions in SGHT. Steele Capital Management Inc. bought a new stake in Sight Sciences in the 2nd quarter valued at $67,000. State Board of Administration of Florida Retirement System bought a new position in shares of Sight Sciences in the first quarter valued at about $59,000. SG Americas Securities LLC acquired a new stake in shares of Sight Sciences during the 3rd quarter worth about $75,000. The Manufacturers Life Insurance Company bought a new stake in shares of Sight Sciences during the 2nd quarter worth about $95,000. Finally, GSA Capital Partners LLP acquired a new position in Sight Sciences in the 3rd quarter valued at about $136,000. 55.51% of the stock is owned by institutional investors and hedge funds.

About Sight Sciences

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.