Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) PT at $6.42

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.42.

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, August 2nd. Morgan Stanley increased 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. Citigroup increased their price objective on shares of Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Finally, Lake Street Capital assumed coverage on shares of Sight Sciences in a research note on Wednesday, August 21st. They set a “buy” rating and a $10.00 target price for the company.

Sight Sciences Price Performance

SGHT opened at $6.38 on Friday. The firm has a market cap of $320.98 million, a P/E ratio of -5.70 and a beta of 2.73. Sight Sciences has a fifty-two week low of $1.04 and a fifty-two week high of $8.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01. The firm has a 50-day moving average of $6.76 and a 200 day moving average of $5.99.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, August 1st. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. The business had revenue of $21.37 million for the quarter, compared to the consensus estimate of $21.32 million. During the same period last year, the firm posted ($0.30) earnings per share. On average, research analysts expect that Sight Sciences will post -1 EPS for the current year.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 12,569 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $6.42, for a total transaction of $80,692.98. Following the completion of the sale, the chief executive officer now owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sight Sciences news, CFO Alison Bauerlein sold 10,497 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total value of $65,186.37. Following the transaction, the chief financial officer now directly owns 402,685 shares in the company, valued at $2,500,673.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,569 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $6.42, for a total value of $80,692.98. Following the sale, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The disclosure for this sale can be found here. Insiders sold a total of 34,774 shares of company stock worth $219,243 in the last three months. Company insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its position in Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after buying an additional 9,106 shares in the last quarter. Steele Capital Management Inc. bought a new stake in Sight Sciences during the second quarter worth approximately $67,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Sight Sciences in the 1st quarter valued at $59,000. Finally, Rhumbline Advisers boosted its stake in Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.