Sight Sciences (NASDAQ:SGHT) Hits New 12-Month High Following Analyst Upgrade

Sight Sciences, Inc. (NASDAQ:SGHT)’s stock price reached a new 52-week high during mid-day trading on Thursday after UBS Group raised their price target on the stock from $8.00 to $13.50. UBS Group currently has a buy rating on the stock. Sight Sciences traded as high as $11.32 and last traded at $11.3340, with a volume of 104,735 shares. The stock had previously closed at $10.92.

Several other equities research analysts have also weighed in on SGHT. Citigroup raised their target price on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Monday, October 5th. HC Wainwright assumed coverage on Sight Sciences in a report on Thursday, October 15th. They issued a “buy” rating and a $14.00 price target for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research note on Wednesday, November 4th. Wall Street Zen raised shares of Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 price objective (up from $9.00) on shares of Sight Sciences in a research report on Thursday, November 5th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.31.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 29,653 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total value of $268,359.65. Following the completion of the sale, the chief executive officer owned 6,092,819 shares in the company, valued at approximately $55,140,011.95. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brenton Taylor sold 2,988 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $8.85, for a total value of $26,443.80. Following the completion of the sale, the executive vice president owned 261,990 shares of the company’s stock, valued at approximately $2,318,611.50. This represents a 1.13% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 47,646 shares of company stock worth $429,157. 30.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently modified their holdings of the business. Conquis Financial LLC purchased a new stake in Sight Sciences in the 2nd quarter valued at $27,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences during the 2nd quarter worth $60,000. Diversified Trust Co grew its position in Sight Sciences by 27.3% during the 3rd quarter. Diversified Trust Co now owns 18,989 shares of the company’s stock worth $178,000 after purchasing an additional 4,068 shares during the last quarter. R Squared Ltd increased its stake in Sight Sciences by 20.7% in the third quarter. R Squared Ltd now owns 19,759 shares of the company’s stock valued at $185,000 after purchasing an additional 3,388 shares during the period. Finally, Ieq Capital LLC acquired a new position in Sight Sciences in the second quarter valued at $135,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Trading Up 4.9%

The business’s 50 day simple moving average is $8.87 and its 200 day simple moving average is $6.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.04 and a quick ratio of 4.72. The company has a market capitalization of $636.88 million, a price-to-earnings ratio of -21.81 and a beta of 2.44.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, November 4th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. The business had revenue of $24.92 million during the quarter, compared to the consensus estimate of $23.55 million. Research analysts anticipate that Sight Sciences, Inc. will post -0.48 EPS for the current year.

About Sight Sciences

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company’s portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.