Morgan Stanley Issues Pessimistic Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price objective lowered by stock analysts at Morgan Stanley from $7.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 18.20% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Piper Sandler restated a “neutral” rating and set a $5.50 target price (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Friday, November 8th. Finally, Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.00 to $5.00 in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

Sight Sciences Price Performance

Sight Sciences stock opened at $4.23 on Monday. The firm has a market capitalization of $212.80 million, a P/E ratio of -4.15 and a beta of 2.74. Sight Sciences has a 1 year low of $1.70 and a 1 year high of $8.45. The business has a 50-day moving average of $5.85 and a 200-day moving average of $6.24. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33.

Sight Sciences (NASDAQ:SGHT) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 45.63% and a negative net margin of 63.30%. On average, equities analysts anticipate that Sight Sciences will post -1 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the sale, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, the insider now owns 663,550 shares of the company’s stock, valued at $3,722,515.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 5,725,433 shares in the company, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,357 shares of company stock worth $574,666. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SGHT. GSA Capital Partners LLP acquired a new position in shares of Sight Sciences during the 3rd quarter worth approximately $136,000. SG Americas Securities LLC acquired a new position in Sight Sciences in the 3rd quarter valued at $75,000. B. Riley Wealth Advisors Inc. acquired a new position in Sight Sciences in the 2nd quarter valued at $1,234,000. Long Focus Capital Management LLC grew its holdings in Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after buying an additional 260,594 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Sight Sciences in the 2nd quarter valued at $95,000. Institutional investors and hedge funds 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.