Sight Sciences (NASDAQ:SGHT) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a research note released on Friday morning, Benzinga reports.

Other equities research analysts have also issued reports about the stock. Citigroup raised their price objective on shares of Sight Sciences from $6.00 to $6.50 and gave the company a neutral rating in a report on Wednesday, July 10th. 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. Finally, Morgan Stanley upped 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 note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Sight Sciences has a consensus rating of Hold and an average target price of $5.70.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $5.52 on Friday. The firm has a market cap of $274.68 million, a PE ratio of -4.93 and a beta of 2.75. 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 52 week low of $1.04 and a 52 week high of $9.03. The business’s fifty day simple moving average is $6.90 and its 200-day simple moving average is $5.67.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, topping 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 44.03%. The company had revenue of $21.37 million for the quarter, compared to analyst estimates of $21.32 million. During the same period in the prior year, the business earned ($0.30) EPS. Equities analysts forecast that Sight Sciences will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Alison Bauerlein sold 13,066 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $5.42, for a total value of $70,817.72. Following the sale, the chief financial officer now directly owns 413,182 shares in the company, valued at $2,239,446.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Alison Bauerlein sold 13,066 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $5.42, for a total transaction of $70,817.72. Following the transaction, the chief financial officer now directly owns 413,182 shares in the company, valued at $2,239,446.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeremy B. Hayden sold 5,055 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total value of $31,391.55. Following the sale, 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. In the last ninety days, insiders have sold 47,840 shares of company stock worth $290,061. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. grew its stake in Sight Sciences by 198.1% during the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after purchasing an additional 39,333 shares in the last quarter. Jackson Square Partners LLC grew its holdings in shares of Sight Sciences by 12.0% during the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock valued at $8,409,000 after purchasing an additional 174,737 shares during the last quarter. UBS Group AG raised its position in shares of Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after purchasing an additional 2,881,750 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Sight Sciences by 180.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after purchasing an additional 7,764 shares during the last quarter. Finally, RTW Investments LP acquired a new position in Sight Sciences during the 4th quarter valued at approximately $850,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.