Sight Sciences, Inc. (NASDAQ:SGHT) Receives $7.75 Average Target Price from Analysts

Sight Sciences, Inc. (NASDAQ:SGHT) has received an average recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.75.

Several research firms recently weighed in on SGHT. UBS Group began coverage on Sight Sciences in a report on Tuesday. They issued a “buy” rating and a $7.00 price objective for the company. Weiss Ratings cut shares of Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 11th. Finally, Citigroup raised their target price on shares of Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th.

Insider Buying and Selling at Sight Sciences

In related news, CTO David Badawi sold 7,418 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the transaction, the chief technology officer owned 1,982,872 shares of the company’s stock, valued at $10,925,624.72. The trade was a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeremy B. Hayden sold 12,733 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $70,158.83. Following the sale, the insider owned 357,037 shares of the company’s stock, valued at approximately $1,967,273.87. This represents a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,566 shares of company stock valued at $318,827 in the last ninety days. Company insiders own 30.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Americana Partners LLC grew its stake in Sight Sciences by 12.1% in the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company’s stock valued at $10,935,000 after purchasing an additional 149,161 shares during the last quarter. Palumbo Wealth Management LLC bought a new position in Sight Sciences in the fourth quarter worth about $294,000. Dimensional Fund Advisors LP lifted its position in shares of Sight Sciences by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock valued at $1,288,000 after buying an additional 40,346 shares during the last quarter. WealthTrust Asset Management LLC lifted its position in shares of Sight Sciences by 14.1% during the first quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock valued at $168,000 after buying an additional 5,529 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Sight Sciences in the 1st quarter valued at about $147,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Sight Sciences Stock Performance

SGHT opened at $5.26 on Wednesday. The company has a quick ratio of 5.48, a current ratio of 5.86 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average is $5.11 and its two-hundred day moving average is $4.94. The company has a market capitalization of $286.20 million, a P/E ratio of -7.41 and a beta of 2.38. Sight Sciences has a 52 week low of $3.11 and a 52 week high of $9.24.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The firm had revenue of $19.70 million during the quarter, compared to analysts’ expectations of $18.46 million. Analysts forecast that Sight Sciences will post -0.6 earnings per share for the current year.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.