Analysts Set Sight Sciences, Inc. (NASDAQ:SGHT) PT at $5.70

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $5.70.

SGHT has been the topic of a number of research analyst reports. Citigroup boosted their price objective 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. Morgan Stanley boosted their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a report on Friday, May 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $6.00 price objective (up previously from $5.00) on shares of Sight Sciences in a report on Friday, May 3rd.

Sight Sciences Stock Down 1.4 %

Shares of NASDAQ:SGHT opened at $8.03 on Friday. The company has a market cap of $399.57 million, a price-to-earnings ratio of -7.17 and a beta of 2.74. The firm’s 50-day simple moving average is $6.66 and its 200-day simple moving average is $5.57. The company has a quick ratio of 12.42, a current ratio of 13.01 and a debt-to-equity ratio of 0.31. Sight Sciences has a fifty-two week low of $1.04 and a fifty-two week high of $9.31.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.04). The company had revenue of $19.27 million for the quarter, compared to analysts’ expectations of $18.34 million. Sight Sciences had a negative return on equity of 44.45% and a negative net margin of 67.18%. As a group, equities research analysts predict that Sight Sciences will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In other Sight Sciences news, CFO Alison Bauerlein sold 13,066 shares of Sight Sciences stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $5.42, for a total transaction of $70,817.72. Following the completion of the transaction, the chief financial officer now owns 413,182 shares in the company, valued at $2,239,446.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sight Sciences news, CFO Alison Bauerlein sold 13,066 shares of Sight Sciences stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $5.42, for a total transaction of $70,817.72. Following the completion of the transaction, the chief financial officer now owns 413,182 shares in the company, valued at $2,239,446.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeremy B. Hayden sold 5,055 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $31,391.55. Following the completion of the transaction, the insider now directly owns 163,565 shares of the company’s stock, valued at approximately $1,015,738.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,840 shares of company stock worth $290,061. Insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System acquired a new position in shares of Sight Sciences in the first quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its position in shares of Sight Sciences by 180.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock valued at $62,000 after buying an additional 7,764 shares during the last quarter. Steele Capital Management Inc. acquired a new position in shares of Sight Sciences in the second quarter valued at approximately $67,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Sight Sciences by 51.9% in the first 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 during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of Sight Sciences by 198.1% in the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after buying an additional 39,333 shares during the last quarter. 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.