Sight Sciences (NASDAQ:SGHT) Earns “Neutral” Rating from Piper Sandler

Piper Sandler reissued their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a research note released on Friday,Benzinga reports. They currently have a $5.50 price target on the stock, down from their prior price target of $6.00.

SGHT has been the subject of several other reports. Lake Street Capital cut shares of Sight Sciences from a “buy” rating to a “hold” rating and decreased their price target for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday. Finally, Morgan Stanley lifted their target price on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Sight Sciences has an average rating of “Hold” and a consensus target price of $5.50.

Sight Sciences Stock Performance

Shares of Sight Sciences stock opened at $4.59 on Friday. The company’s 50 day moving average price is $5.89 and its two-hundred day moving average price is $6.25. The firm has a market capitalization of $230.91 million, a P/E ratio of -4.50 and a beta of 2.74. Sight Sciences has a fifty-two week low of $1.70 and a fifty-two week high of $8.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50.

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

Insider Buying and Selling

In other news, CFO Alison Bauerlein sold 10,130 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $2,386,734.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares in the company, valued at approximately $964,816.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alison Bauerlein sold 10,130 shares of Sight Sciences stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $61,590.40. Following the transaction, the chief financial officer now directly owns 392,555 shares of the company’s stock, valued at $2,386,734.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,357 shares of company stock worth $574,666. 28.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of SGHT. Jacobs Levy Equity Management Inc. increased its holdings in shares of Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock worth $1,991,000 after purchasing an additional 76,549 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 acquiring an additional 9,106 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Sight Sciences by 5.5% during the 1st 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 last quarter. Long Focus Capital Management LLC grew its holdings in shares of Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after purchasing an additional 60,220 shares during the last quarter. 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.