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

Sight Sciences (NASDAQ:SGHT) was downgraded by equities research analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a report released on Monday, Marketbeat.com reports. They presently have a $5.00 target price on the stock, down from their prior target price of $10.00. Lake Street Capital’s target price would indicate a potential upside of 6.16% from the company’s current price.

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

Sight Sciences Price Performance

SGHT stock opened at $4.71 on Monday. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. The firm has a market cap of $236.96 million, a price-to-earnings ratio of -4.47 and a beta of 2.74. The company’s fifty day simple moving average is $6.10 and its 200 day simple moving average is $6.27. Sight Sciences has a 12-month low of $1.58 and a 12-month high of $8.45.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 12,727 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the sale, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 transaction of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alison Bauerlein sold 10,130 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction 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 $2,386,734.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,357 shares of company stock valued at $574,666. 28.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors have recently made changes to their positions in SGHT. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sight Sciences by 51.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after buying an additional 9,106 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sight Sciences in the first quarter worth about $59,000. Vanguard Group Inc. boosted its position in shares of Sight Sciences by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock valued at $8,218,000 after acquiring an additional 81,768 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Sight Sciences by 25.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after purchasing an additional 76,549 shares during the period. Finally, Steele Capital Management Inc. purchased a new position in shares of Sight Sciences during the 2nd quarter valued at $67,000. Hedge funds and other institutional investors 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.